Trump announces a 25% tariff on goods from Mexico and Canada
On the 25th local time, U.S. President-elect Donald Trump stated that a 25% tariff will be imposed on all products entering the U.S. from Mexico and Canada. In addition, Trump announced a 10% tariff on all goods imported from China. Trump suggested a universal 10% tariff on all imported goods in an interview last year. In November of this year, a study by the National Retail Federation (NRF) indicated that if Trump's proposed new tariff plan is implemented, U.S. consumers could lose up to $78 billion in annual purchasing power. The study showed that these tariffs would affect consumer goods categories such as clothing, toys, furniture, appliances, footwear, and travel goods. An analysis by Reuters pointed out that in recent years, American consumers have become more frugal, reducing unnecessary spending, which has put sales pressure on retailers and consumer goods companies. Jonathan Gold, Vice President of Supply Chain and Customs Policy at the National Retail Federation, stated that retailers rely on imported goods and manufacturing components to provide a diverse range of affordable products. If these import tariffs are implemented, it will place a heavier economic burden on low-income families, as the tariffs will ultimately be passed on to consumers, leading to higher prices
Freight trucks preparing to enter the United States from Mexico (file photo)
On the 25th local time, U.S. President-elect Donald Trump stated that he would impose a 25% tariff on all products entering the United States from Mexico and Canada. In addition, Trump announced a 10% tariff on all goods imported from China.
In an interview last year, Trump proposed a 10% universal tariff on all imported goods. In November of this year, a study by the National Retail Federation (NRF) pointed out that if Trump's new tariff plan is implemented, U.S. consumers could lose up to $78 billion in annual purchasing power. The study indicated that these tariffs would affect consumer goods categories such as clothing, toys, furniture, appliances, footwear, and travel goods.
A Reuters analysis noted that in recent years, American consumers have become more frugal, reducing unnecessary spending, which has put sales pressure on retailers and consumer goods companies. Jonathan Gold, Vice President of Supply Chain and Customs Policy at the National Retail Federation, stated that retailers rely on imported goods and manufacturing components to provide a diverse and affordable range of products. If these import tariffs are implemented, it will increase the economic burden on low-income families, as the tariffs will ultimately be passed on to consumers, leading to higher prices. (CCTV reporter Ma Tianjing, Liu Xiaoqian)
Origin: CCTV News Client