Canadian Prime Minister Justin Trudeau was reportedly quick to respond to US President-elect Donald Trump‘s threat to impose tariffs on Mexican, Canadian and Chinese goods as global currencies plummeted.
The incoming president posted on his Truth Social platform Monday night that he would impose a 25 percent tariff on Mexican and Canadian goods as long as the countries continue to allow immigrants to flow over the US border.
He also said he’d impose an additional 10 percent tariff on Chinese goods over the Chinese government’s refusal to make good on a promise to use the death penalty on drug dealers.
These actions, Trump said, would take place on the first day of his administration and noted that the tariffs on Mexican and Canadian imports would apply to ‘ALL products coming into the United States, and its ridiculous Open Borders.
‘This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!’
Trump also suggested that Mexico and Canada had ‘the absolute right and power to easily solve this long simmering problem’ – indicating he wanted the neighbors to do more to patrol their borders so migrants couldn’t sneak into the United States amid yet another migrant caravan.
Just two hours after Trump posted the threats, Trudeau called Trump at his Mar-a-Lago estate, and the two had a constructive conversation focused on trade and security at the border, an unidentified Canadian official with knowledge of the call told the New York Times.
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Grassley calls Trump’s promised tariffs on Mexico, Canada, China a ‘negotiating tool’
U.S. Sen. Chuck Grassley predicted that President-elect Donald Trump’s proposed tariffs on Mexico, Canada and China will be used as a “negotiating tool” to put pressure on the three largest U.S. trade partners.
“I think you got to see it as a negotiating tool and not have any impact on the final analysis because I think Canada has more to lose than we do, and they’ll control their borders — same for Mexico,” Grassley told reporters Tuesday.
Trump said he will impose a 25% tariff on all products from Mexico and Canada coming into the U.S. as a top priority when he is in office to slow illegal immigration and stem illegal drugs flowing into America. He also suggested a 10%-20% tariff on all goods and a 60% tariff on Chinese goods.
“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” Trump wrote in a post on his social media site, Truth Social. “Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem.”
Trump has a history of using tariffs
Trump waged a trade war in his first term, imposing tariffs on billions of dollars of Chinese-made goods. The two countries eventually signed a trade deal that was meant to lead to more trade talks down the line. Those plans were thwarted by the COVID-19 pandemic.
Grassley has previously warned Trump that his tariffs could be damaging. He several times has cited the Hawley Tariff Act signed by former President Herbert Hoover in 1930 that raised tariffs on several products, worsening the Great Depression after countries retaliated with their own tariffs.
But Grassley said Tuesday that Trump’s tariffs on China during his first term successfully added pressure for fairer trade, but he acknowledged that China never fulfilled its promise to buy the full $200 billion of American agricultural products it agreed to in a deal Trump made during his first administration.
While President Joe Biden often criticized the Trump administration on trade and tariffs, Biden kept many of Trump’s tariffs in place and increased tariffs on targeted items such as Chinese electric vehicles and solar panels.
“I presume I am going to have plenty of opportunity when they (Trump administration) come before our committee on any of those issues dealing with China,” Grassley said. “I bet every member of Congress will have the opportunity to ask officials, not only about trade issues and agriculture issues …”
He said he is “concerned about the potential” of another trade war invoked by the tariffs, but he acknowledged he won’t know the result until they are imposed.
“Whatever tools you use, you expect the United States government to fight for the interest of the United States and to stop other countries from subsidizing their products coming into the United States,” Grassley said. “That’s a violation of the international rules of trade.”
Iowa Gov. Kim Reynolds told reporters Tuesday when asked about the tariffs that Trump is going to put policies or executive orders in place to get the country “back to where it was” when he served his first term. She said the U.S.’s current approach to border security is not sustainable.
“I think he has a pretty clear mandate to do what he needs to do to secure this border. Maybe look at new ways that we can do legal immigration,” Reynolds said. “We’re a very welcoming state. We need people, but just like other countries do, maybe we tie that to where the need is at in our country and make the process simpler, maybe not so expensive, but really targeted to where the need is at. And so I think that’s an opportunity that they can work on going forward.”
What are tariffs?
A tariff is a form of tax imposed on imports from another country. The business buying goods from another country pays the additional fee, but many experts agree the extra costs get passed onto consumers.
Economic theory generally shows higher trade barriers raise consumer prices and negatively impact economic output and income, according to the Tax Foundation, a nonpartisan tax policy nonprofit.
Experts say the argument for tariffs is to increase demand for domestic manufacturers, even though they are also part of the global supply chain that could be impacted by tariffs. National security is also an argument for using tariffs to ensure domestic production.
Trump’s threatened tariffs would mean average tariff rates at highs not seen since the Great Depression, according to the Tax Foundation.
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Former Rep. George Santos exposes what’s really going on in Congress: boozing, selling votes, and more…
Truthfully, that 25 percent approval rating for Congress seems shockingly high, doesn’t it? Think about it: the right is disgusted with the GOP’s spinelessness, and the left is just as disillusioned, thinking their leaders aren’t “radical” enough. But let’s be real—our so-called representatives couldn’t care less what the rest of us peasants think. Clearly, they’re not in this for us; they’re in it for themselves.
In all honesty, Congress sounds more like a seedy, out-of-control “rave” than a hallowed institution. And now, the latest voice to blow the whistle on what’s really going on is none other than former Rep. George Santos.
Rep. Santos, after being forced out of Congress by his own party, is now singing like a canary and spilling the tea on what’s really happening behind closed doors in Congress, and it’s as ugly and gross as you’d imagine it to be.
Another Congress Member Insider Trading for Matt Gaetz to investigate
Oklahoma Senator Markwayne Mullin’s Net Worth QUADRUPLED Between 2018-2022 From $12m -> $63m
He bought shares of a water meter company just 2 weeks before Tulsa, Oklahoma announced replacing all water meters costing $94 million
How did he know?! That’s not all, other congress members made the trade and the water meter replacements are being done nationwide
“How is it possible that even though the congressional salary is a $174,000 a year, all these lawmakers are worth millions of dollars? That’s because they often make much more than that in the stock market.
I’ll give you a perfect example, Senator Markwayne Mullin from Oklahoma. His net worth almost quadrupled between 2018 and 2022. January 4th, early this year, he bought shares of a company called Badger Meter Incorporated, ticker BMI.
Now, Badger Meter, as their name suggests, makes water meters. The things that calculate how much water you use. So stick with me. Remember earlier when I said senator Mullen is from Oklahoma? The reason that’s important is because just 2 weeks after Mullin bought shares with the water meter company, I came across an announcement by the city of Tulsa, Oklahoma saying that it has begun the installation of 145,000 automated water meters across the city at a cost of $94,000,000.
The exact same product which was made by Badger Meter, the company he bought stock in just 2 weeks earlier. And it’s not just Tulsa doing this, this is going on across the country.
That’s because of the new federal mandate by the EPA for every US city to upgrade their inventory of lead service lines by October 24, 2024 later this year. It’s reasonable to assume that when Tulsa and all these other US cities upgrade millions of water meters to meet these new guidelines, a company like Badger Meter would stand to benefit, and in turn, those shares that he bought.
I wish I could say that this was an isolated incident, but I see stuff like this happen all the time.”
Clearly, Santos is telling a story we’ve all heard before: Congress is a swamp, overflowing with drugs, booze, sex, and insider trading—just to name a few. It’s beyond time to clean house (pun intended) and push for term limits, like Trump suggested, on these so-called “public servants,” who are doing next to nothing to actually “serve” the American people.
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