usa news: US Commerce Secretary Howard Lutnik confirmed on Sunday (March 2) that tariffs on Canadian and Menxican items would be applicable on Tuesday (March 4) on Tuesday (March 4). He said that President Donald Trump will soon finalize the tariff rates. & Nbsp;
Lutnik said on the Sunday Morning Futures of Fox News, “He is right now that he wants to deal with Mexico and Canada and this is an unstable situation.” He reiterated that tariffs would be imposed, but the place has been left for the talks at the last minute by the President and his team.
Border Security and Fantanelle expressed concern
Lutnik acknowledged that Canada and Mexico have taken necessary steps to secure their borders with the US, & Nbsp; Fentenal smuggling is a big issue. Synthetic opioid has been a major concern for American officials, which has created the country’s drug crisis. & Nbsp;
Additionally it is expected that Trump will increase the tariff on China from 10% to 20%, unless Beijing takes important steps to prevent the smuggling of Fentanel in the US. & nbsp; Trump is the main reason for these tariffs. Drug smuggling is particularly stated to stop Phentineel. Their purpose is to pressurize other governments to take action.
Wooden imports started checking & nbsp;
On Saturday, Trump started a new business check in the case of imported wood, which could impose additional duty. This investigation can increase trade tension further. The investigation conducted under Section 232 of the 1962 Trade Extension Act has been done after the previous fees levied on Canadian softwood wood and 25% charges on Canadian and Mexican items.
According to AP News report, the Center-Right Think Tank American Action Forum business policy analyst Jacob Jenson said, “25% tariffs on Mexico and Canada will increase a total tax increase between $ 120 billion to $ 225 billion annually. Additional tariffs on China can cause loss of up to $ 25 billion to consumers.
High prices and the possibility of slow growth could give Trump a big blow as he promised voters in last year’s presidential election to reduce the inflation rate quickly.
