U.S. President Trump will uphold tariffs on China, Canada, and Mexico concerning their fentanyl policies. Secretary Lutnick indicated that these tariffs will remain while the fentanyl issue persists. He assured that there would be no recession in the U.S., although foreign goods might see increased prices.
United States President Donald Trump intends to maintain tariffs related to fentanyl on Mexico, Canada, and China, as stated by U.S. Commerce Secretary Howard Lutnick. During an NBC interview, Lutnick emphasized, “If fentanyl ends, I think these will come off. But if fentanyl does not end, or he is uncertain about it, he will stay this way until he is comfortable.” He asserted the importance of these measures for protecting American lives.
The 25% tariffs on steel and aluminum imports are set to be implemented as scheduled. Notably, Canada and Mexico serve as primary exporters of these metals to the United States, with Canada being the predominant source of aluminum. Lutnick expressed confidence in the economy, stating, “Absolutely not. There’s going to be no recession in America,” despite acknowledging that the tariffs would increase prices for some foreign-made goods.
In summary, President Trump’s administration reinforces its tariff stance as a strategy to address the fentanyl crisis, particularly impacting imports from Canada, Mexico, and China. Commerce Secretary Lutnick highlights the initiative as a means to protect American lives while maintaining a belief that these tariffs will not precipitate a recession, despite slight price increases on foreign products.
Original Source: www.business-standard.com
