President Donald Trump says he plans to implement new tariffs on China and Mexico next week.
According to the president’s post on TruthSocial, it’s in response to the ongoing drug crisis, particularly the influx of fentanyl, a potent and addictive substance.
The tariffs, scheduled to take effect March 4, aim to curb the flow of drugs into the country from Mexico and Canada, which are reportedly supplied by China.
“Drugs are still pouring into our country from Mexico and Canada at very high and unacceptable levels,” Trump said in the post. “A large percentage of these drugs, much of them in the form of Fentanyl, are made in, and supplied by, China.”
Trump highlighted the devastating effect of these drugs, noting more than 100,000 people died last year because of their distribution. “Millions of people have died over the last two decades. The families of the victims are devastated and, in many instances, virtually destroyed,” the post said.
In addition to the March 4 tariffs, China will face an additional 10% tariff on the same date. The April 2 reciprocal tariff date also remains in effect.
“We cannot allow this scourge to continue to harm the USA,” Trump said.
The prospect of escalating tariffs has already thrown the global economy into turmoil — with consumers expressing fears about inflation worsening and the auto sector possibly suffering if trading partners Canada and Mexico are slapped with taxes. The prospect of higher prices and slower growth could create political blowback for Trump.
Editor’s note: The Associated Press contributed to this report.
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