Donald Trump has announced that, if he is re-elected as President of the United States, he will impose significant import tariffs on China. Canada and Mexico are also expected to face similar measures. On his social media platform, Truth Social, Trump stated that these tariffs are being introduced to combat illegal immigration and drug trafficking. Trump is proposing a 10% import tariff on products exported from China to the U.S. This tariff would be in addition to the existing tariffs already in place on Chinese goods. A 10% tariff is relatively moderate compared to Trump’s earlier campaign promises, where he suggested imposing a 60% tariff on Chinese imports.
In addition to the measures against China, Trump also announced a 25% import tariff on all products coming from neighboring countries, Canada and Mexico. According to Trump’s post on Truth Social, “massive amounts” of drugs are being smuggled into the U.S. from China, passing through Mexico and Canada. He described the borders as “ridiculously open” and stated that the tariffs would remain until the drug trafficking is stopped.
Both China and Germany have expressed a willingness to engage in talks with Trump, concerned that the introduction of additional tariffs could spark a global trade war. Robert Habeck, Germany’s Minister of Economy, warned that a trade war would result in a “lose-lose” situation for everyone involved.