President Donald Trump’s 25% tariffs in the goods in Mexico and Canada came into force on Tuesday, in some Chinese imports with a double increase in tariffs.
In response, Canada applied 25% of US goods, including machines, car parts and alcoholes, including $ 200% of US goods, including Ontario, 25% of energy exports – Minnesota, New York and Michigan Bloomberg.
China also applied tariffs on Tuesday – USA of agricultural products from 10% to 15% to 15% and filed a lawsuit against new tariffs with the world trade organization.
Mexico will announce Sunday’s counterparts.
Canada and Mexico have been in-line trade agreements with the United States in three decades USA today. However, China and the United States have been engaged in tat-tat tariffs since 2018.
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So far, the news sounded shares.
That’s what tariffs and how they can affect consumers and businesses in the United States
Why applying Trump tariffs?
In a decree signed on Monday, Trump, the tariffs were designed to reduce the trade deficit of the United States and fight against Fentanyl crisis.
Trump, Canada, Mexico and China pressures, said he applied tariffs to stop drugs such as Fentanyl Fox’s work. According to drug protection, in 2023, about 70% of the drugs from the extreme doses of drugs attracted openings such as Fentanyl.
Trump wrote that China’s “unusual and extraordinary threat”, including the “unusual and extraordinary threat” and “unusual and extraordinary threat” and “unusual and extraordinary threat”.
The Trump administration also says that the border is used by the tariffs as a way to ensure the border and discontinuing undocumented immigrants from Mexico and Canada.
In a writer in November, Trump, Trump, the “drugs, especially illegal fentanl” and “all illegal foreigners to stop the occupation of our country”, “he said.
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What are the tariffs and what will be for consumers?
Tariffs are taxed to goods imported from other countries. For example, 20% tariff for Chinese goods means a $ 10 product will be added to the price. When the importer passed the border, the United States would have to pay taxes to customs and border protection.
Companies can swallow additional payments or transmit to customers in the form of increasing prices.
The Director General of the target and the best shopping, said that companies will raise the prices of consumers in response to tariffs.
Target CEO Brian Cornell said CNBC Tuesdays will increase in the next few days for the end of the tariffs. Cornell noted that the target depends on the products of Mexico in winter, so the buyers were able to see the prices of fruits and vegetables such as strawberries and avocados.
On Tuesday, CEO Corie Barry said the company’s earnings ‘high probable’ is “high probable”, “it is most likely” to see the price increase in response to tariffs. About 55% of Barry’s products from Mexico and the best sources of 20%.
However, Chipotle CEO Scott explained Boatwright Nbc On Sunday, the company intends to increase prices only if the costs are significant and increased.
How does the stock exchange react to tariff news?
US shares in response to the news of tariffs, the Dow industry, S & P 500 and NASDAQ composition are more than 1% on Tuesday Wall Street Journal.
In the middle of Tuesday, DOW lost more than 770 or 770 points, s & p and Nasdaq fell by more than 1.5% Npr.
After writing on Monday 22.78, after writing in 22.35, Wall Street’s fearful device, Wall Street fear device, this year is the highest level of up to 24.35 this year. This year, VIX average parcel cost was 16.86.
What are the benefits of tariffs?
US exports imported more than $ 1.2 trillion goods and services in 2024. More than 40% of imports came from China, Canada and Mexico.
According to the Institute of Economic Policy, tariffs benefit from the United States compared to domestic producers compared to local comparable goods. Local companies do not have to pay tariffs for the goods they produce and sell in the country.
Trump, on Tuesday, stressed this point on truth: “If companies move to the United States, there are no tariffs !!!”
Tariffs can also increase the government’s revenues. The responsible federal budget, nonprofit organization, non-profit organization committee, Canada and Mexico estimated that the 25% of the fare of imports will increase $ 110 billion. If tariffs are made permanent, they will earn $ 1.3 trillion in the next decade.
Again, Peteron’s experts for domestic economy, independent, non-profit and non-profit research are said that the trade deficit of tariffs will not shrink.
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