Donald Trump imposed huge tariffs on the three largest trading partners in the United States, facing the opposition of commercial groups and some of his own Republican Party.
The trading association of consumer goods, oil, groceries and auto manufacturers queues to warn that Trump’s new tariffs include 10 % tariffs imported from China, 25 % of all imported imports to Mexico and Canada, and 10 % of the lower levy 10 % Canada’s energy-will push up the price of ordinary Americans and cause confusion in the supply chain.
“The president is a major issue that focuses on our broken border and fentanyl, but the right to impose tariffs.. It will not solve these problems and only increase the price of American families.” President John Murphy said.
The consumer product team warned that Americans would see more expensive groceries, and car manufacturers warned that tariffs would increase the cost of building vehicles in the United States.
“Tariffs are levied from all imported goods from Mexico and Canada, especially the unavailable ingredients and tariffs that the United States cannot use, which may lead to higher consumer prices and revenge on American exporters.” Tom Madrecki, vice president of supply chain elasticity, said Essence Consumer Brand Association.
Peterson Institute senior researcher Kim Clausing (Kim Clausing) said tariffs would represent “the largest tax increase since the 1990s”.
“We are used to having frictional trade in North America. This is a lifetime of some people,” Clarvan USISE said.
“Therefore, from free trade to 25 % is indeed very dramatic. I think this will be shocked to the US economy.”
On Saturday, Trump imposed huge tariffs on Canada, Mexico and China, jumping for economic nationalism to its primary task, and at the same time opposed the US trade deficit with trading partners.
In response, the Canadian Prime Minister Justin Trudeau announced that it was worth 155 million Canadian dollars ($ 10.7 billion), including American alcohol, clothing, household appliances and wood.
It is expected that Mexican President Claudia Sheinbaum is also expected to announce tariffs soon after warning revenge.
Trump strengthened his attack on US trading partners on the Sunday, opposed the US trade deficit with social media, and repeated him to ask Canada to become the “51st state”.
“We subsidize hundreds of billions of dollars to Canada. Why?” He released the truth of truth.
“There is no reason. We don’t need anything they have. We have unlimited energy, we should make our own car, and there are more wood than us at any time. Without such a large amount of subsidies, Canada is no longer a feasible country . Delivered but really!
Tim Scott, a South Carolina Republican senator Tim Scott, criticized positive new trading measures, and the latter posted them with “just taxes for South Carolina”.
Scott wrote on X: “I understand and appreciate the suspicious actions willing to continue to violate the rules, but it is invalid to treat our long -term allies at best in the same way.”
Democrats of Congress criticized Trump’s move.
“These Lu CK tariffs will bring a sledgehammer, which requires surgical knives, and the American people will pay the price,” said Richard Neal, the highest Democratic Party of the House Committee of the House of Representatives responsible for trade policy.
Neil added: “For targeted in a specific industry, thoughtful measures can protect the interests and workers of the United States and show thorough decision -making.” “That’s not what the president is doing.”
The Peterson Institute estimated last month that Trump’s threat sanctions will cause economic losses to all countries including the United States.
It is estimated that during Trump’s term, 25 % of the 25 % tax on Canada and Mexico will cause the US economy to suffer about $ 200 billion in losses. The high tariffs imported by China will hit the United States $ 5.5 billion. U.S. inflation will also rise.
Columbia’s senior interest rate and currency analyst Ed Al-Hussainy said that the United States “has adopted the most dangerous tariff strategy and has a high possibility of revenge.”
He said: “I expect the financial situation to start this week will be tightened-considers the decrease in stocks, and a wider range of credit spreads-the risk market must now price the” tariff is a negotiation strategy “, and the price must be priced, and the price must There are more decreases.
Goldman Sachs Research Analyst wrote on Sunday that because of its potential economic impact and the general conditions of the White House set up, “tariffs are more likely to be temporary.”
Investment banks have previously estimated that long -term tariffs imported from Canada and imported from Mexico will increase core personal consumption expenditure prices by 0.7 %.
Claire Jones’s other reports in Washington and Harriet Clarfelt, Harriet Clarfelt, New York
