Trump confirms tariffs on imports from Canada and Mexico, announces new measures for China

Trump stated that 25% tariffs on Mexican and Canadian goods would take effect on March 4, and he also mentioned the possibility of imposing an additional 10% tariff on Chinese imports.

CNN noted that Mexico, China, and Canada are America's three largest trading partners. Imposing tariffs on all three countries simultaneously could lead to a sharp rise in prices for American consumers, especially at a time when inflation is already heating up.

On his Truth Social network, the American leader wrote that drugs are still entering his country from Mexico and Canada in very high and unacceptable amounts.

"We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled," he noted.

Trump imposes import tariffs

Earlier, Donald Trump also stated that he is considering a 25% tariff on the European Union. The American leader believes that the 27-country bloc was "formed to screw the US."

During a meeting in Washington, French President Emmanuel Macron tried to persuade Trump not to impose these tariffs. He emphasized that Europe had done nothing to justify a US response.

At the same time, Macron urged Trump to engage in a trade war with China instead of Europe.

For its part, Beijing warned that US actions would undermine trust in Chinese companies.