Donald Trump started a trade war in a sudden tariff on the three largest trading partners in the United States, and faced the opposition from the business group and his own Republican Party.
Industrial groups representing consumer goods, petroleum, food, and automakers are lined up to warn Trump’s new tariffs. This includes 10 % of tariffs on imports from China, 25 % for all imports from Mexico and Canada, and boosts the price of ordinary Americans, which is 10 % of the taxable. The chain causes confusion.
“The President is correct to focus on major issues such as our broken border and Fentanil’s tragedy, but he is a senior vice president of the US Chamber of Commerce, the largest business group in the United States. John Murphy says:
The consumer product group warned that Americans were looking at more expensive food items, and automakers warned that tariffs would raise costs to build US vehicles.
“All imported products from Mexico and Canada -Especially raw materials and inputs that cannot be used in the United States may lead to rising consumer prices and retaliation for US exporters,” said the Consumer Brand Association.
Kim Croud, a senior fellow at Peterson Research Institute, stated that tariffs represent the “largest tax increase since the 1990s.”
“We are used to trade without friction in North America, and it lasts for some people’s lifetime,” said Croud.
“So going to 25 % from free trade is really dramatic and a major impact on the US economy.”
On Saturday, Trump’s tariff promoted economic nationalism in his Agenda, when he opposed the lack of contracts against US trade deficit.
In response, Canadian Prime Minister Justin Trudeau covers thousands of specific products, including meat, orange juice, electrical appliances, rubber tires, materials, paper, and clothing. We have announced 25 % of customs dollars on products worth the US dollar. 。
Finance Minister Dominik Lebranc said that the first $ 30 billion tariff on Canadian buyers would collide with “most consumers we import from the United States with alternatives.”
Mexico’s President Claudia Shainbaum was expected to publish tariffs immediately after retaliation.
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Trump reinforced the US trading partner on Sunday, went to social media, opposed the US trade deficit, and repeated his request that Canada would be the 51st state.
“We pay hundreds of billions of dollars to subsidize Canada. Why?” He posted to a true society.
“There is no reason. I don’t need anything they have. We have unlimited energy. We have more wood than we can make and use it. This large. Without a scale, it will not be a strict country, but it will be our important state!
The aggressive new trade measures were criticized by members of the Diet, including Tim Scott, a member of the Republican Republican Republican Senate.
“I am grateful to understand and thank the skeptical behavior of a country like China, which is constantly broken and ignored, but treating our close and long -term allies in the same way. At best, it’s non -productive. “Scott writes in X.
Land Paul, a member of the Republican Senator in Kentucky, wrote about X: “Customs duties are just taxes. Conservatives once united for new taxes. Tax trade means that trade decreases and prices are higher.”
Congress Democratic Party accused Trump’s movement.
“These reckless tariffs will adopt a scalpel -required sledge hammer, and Americans will pay for the price,” said Richard Neil, a top Democratic Party member of the House of Representatives. Richard Neil said.
“The thoughtful measures that focus on specific industries targeting the target of the US can protect the US profits and workers and demonstrate thorough policy decisions,” Neil added. “That’s not what the president is doing.”
Peterson Research Institute estimated last month that Trump’s intimidating sanctions could cause economic damage to all related countries, including the United States.
The 25 % tax on imports from Canada and Mexico will have a hit of about $ 200 million in the US economy during Trump’s term. High tariffs on China’s imports to $ 550 billion in the United States. US inflation also rises.
“The United States has begun the highest risk strategy, which is likely to retaliate,” said Ed Al Hseinney, a high -level interest rate and currency analyst of Colombia Threadle.
“We believe that the tightening of financial status is thinking about the closing of the financial situation from this week, and we are considering a deeper credit spread of stocks. The risk market needs to set prices for the scenario and price decline in the scenario of” negotiation tactics “. That’s it.
Goldman Sachs’s research analyst wrote on Sunday that the potential economic impact and the general conditions for the White House set up a general condition for removing. 。
Investment banks had previously estimated that long -term 25 % tariffs on imports from Canada and Mexico would raise their core personal consumption expenditure price by 0.7 %.
Additional reports by Claire Jones in Washington and Harriet Clarfeld in New York
