The Trust Nest
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
    Popular Topics
    • Trump is visiting three of the world’s richest nations. Here’s what’s on their wish list
    • Trump’s ‘Art of the Deal’ diplomacy just delivered a global win—without a shot fired
    • Fresh round of US-Iran talks underway in Oman as two sides try to overcome deep divisions
    • ‘Never again war!’ Pope Leo calls for peace in Ukraine and Gaza in first Vatican address since his election
    • Trump vows to increase trade with India, Pakistan after praising ceasefire agreement: ‘A job well done!’
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting
    The Trust Nest
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Latest News

    White House to impose tariffs on Mexico, Canada and China due to ‘invasion of illegal fentanyl’

    • January 31, 2025

    White House Press Secretary Karoline Leavitt confirmed that President Donald Trump will execute tariffs on Mexico, Canada and China starting Saturday.

    Trump’s economic plan during his campaign called for extending the 2017 tax cuts and imposing tariffs ranging from 10% to 20% on all imported goods. For countries like China, that number could go up to 60%.

    These countries will face these tariffs because they have allowed an ‘unprecedented invasion of illegal fentanyl that is killing American citizens,’ according to Leavitt. 

    ‘The president will be implementing tomorrow a 25% tariff on Mexico, 25% tariffs on Canada, and a 10% tariff on China for the illegal fentanyl they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans,’ Leavitt told reporters at a Friday White House press briefing. ‘These are promises made and promises kept.’

    Canadian Prime Minister Justin Trudeau said Friday that Canada was prepared to respond to any tariffs executed, and warned there could be ‘disastrous consequences’ for American workers and consumers. 

    ‘We’re ready with a response, a purposeful, forceful but reasonable, immediate response,’ Trudeau said. ‘It’s not what we want, but if he moves forward, we will also act.’

    Meanwhile, Leavitt said that the tariffs are not expected to spark a trade war with Canada and that Trump would respond to Trudeau in ‘due time.’ 

    ‘The president is intent on doing this,’ Leavitt said. ‘And I think Justin Trudeau would be wise to talk to President Trump directly before pushing outlandish comments like that to the media.’

    When asked if Mexico, Canada or China could offer any concessions to remove these new tariffs, Leavitt said Trump would decide at a later date. 

    ‘If the president at any time decides to roll back those tariffs, I’ll leave it to him to make that decision,’ Leavitt said. ‘The president is intent on ensuring that he effectively implements tariffs while cutting inflation costs for the American people.’ 

    House Republicans moved to reintroduce the U.S. Reciprocal Trade Act on Jan. 24, a measure that would permit Trump to unilaterally impose trade taxes on both adversaries and allies. 

    Trump previously praised the measure in 2019, claiming it would ‘give our workers a fair and level playing field against other countries.’

    Meanwhile, House Democrats Reps. Suzan DelBene, D-Wash., and Don Beyer, D-Va., also introduced their own legislation in January that would block Trump from using emergency powers to implement tariffs, amid concerns that American consumers would end up footing the bill.

    ‘The American people have clearly and consistently said that the high cost of living is one of their top concerns,’ DelBene said in a statement on Jan. 15. ‘Not only would widespread tariffs drive up costs at home and likely send our economy into recession, but they would likely lead to significant retaliation, hurting American workers, farmers, and businesses.’

    The Associated Press and Fox News’ Elizabeth Elkind contributed to this report. 


    This post appeared first on FOX NEWS
    Related Topics
    • Featured

    Previous Article
    • Stock

    Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch.

    • January 31, 2025
    View Post
    Next Article
    • Latest News

    Since taking office, what are the legal challenges launched against the Trump admin?

    • January 31, 2025
    View Post
    Enter Your Information Below To Receive Trading Ideas and Latest News

      Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
      Popular Topics
      • Trump is visiting three of the world’s richest nations. Here’s what’s on their wish list
      • Trump’s ‘Art of the Deal’ diplomacy just delivered a global win—without a shot fired
      • Fresh round of US-Iran talks underway in Oman as two sides try to overcome deep divisions
      • ‘Never again war!’ Pope Leo calls for peace in Ukraine and Gaza in first Vatican address since his election
      • Trump vows to increase trade with India, Pakistan after praising ceasefire agreement: ‘A job well done!’
      • About us
      • Contacts
      • Privacy Policy
      • Terms and Conditions
      • Email Whitelisting
      Copyright © 2025 thetrustnest.com | All Rights Reserved

      Input your search keywords and press Enter.