US President-elect Donald Trump said Monday he intends to impose sweeping tariffs on goods from Mexico, Canada and China, prompting a swift warning from Beijing that 'no one will win a trade war.
Security forces kill three terrorists trying to infiltrate through Afghan borderUS President-elect Donald Trump said Monday he intends to impose sweeping tariffs on goods from Mexico, Canada and China, prompting a swift warning from Beijing that"no one will win a trade war."
Tariffs are a key part of Trump's economic agenda, with the Republican vowing wide-ranging duties on allies and adversaries alike while he was on the campaign trail. Canada said it was"essential" to US energy supplies, and insisted the relationship benefits American workers. At the time he cited unfair trade practices, intellectual property theft, and the trade deficit as justifications.The US, Mexico and Canada are tied to a three-decade-old free trade agreement, now called the USMCA, that was renegotiated under Trump after he complained that the US businesses, especially automakers, were losing out.
Trump in 2018 cited national security justifications to impose tariffs on steel and aluminum imports that targeted close allies like Canada, Mexico, and the European Union.Many economists have warned that tariffs would hurt growth and push up inflation, since they are primarily paid by importers bringing the goods into the US, who often pass those costs on to consumers.
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