MIAMI--President-elect Donald Trump on Monday pledged big tariffs on the United States' three largest trading partners - Canada, Mexico and China - detailing how he will implement campaign promises that could trigger trade wars.
Trump, who takes office on Jan. 20, 2025, said he would impose a 25% tariff on Canada and Mexico until they clamp down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal. Trump also outlined "an additional 10% tariff, above any additional tariffs" on China, in some of his most specific comments on how he will implement his economic agenda since winning the Nov. 5 election on promises to "put America first". "On January 20th, as one of my many first Executive Orders,
I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," he said in a post on Truth Social. While migrant arrests reached a record during President Joe Biden's presidency, straining U.S. border enforcement, illegal crossings fell dramatically this year as Biden instituted new border restrictions and Mexico stepped up enforcement.
More than 83% of exports from Mexico went to the U.S. in 2023 and 75% of Canadian exports go to the country. Trump's threatened new tariff would appear to violate the terms of the U.S.-Mexico-Canada Agreement on trade. The deal which Trump signed into law took effect in 2020 and continued the largely duty-free trade between the three countries.
Mexico's finance ministry said: "Mexico is the United States' top trade partner, and the USMCA provides a framework of certainty for national and international investors." The office of Canadian Prime Minister Justin Trudeau and the Canadian foreign ministry did not immediately respond to requests for comment.
