On March 4th, an additional 10% tariff will be imposed on China.
According to a recent report by CNBC :
Early this morning Beijing time, and on the morning of February 27th local time, Trump publicly stated that tariffs on Mexico and Canada will take effect on March 4th, and on the same day, he will impose an additional 10% tariff on China again! The comprehensive 25% tariff on imports from Mexico and Canada, which was originally scheduled for February 3rd, has been postponed for one month to March 4th. However, there has been recent skepticism about whether the Trump administration will reinstate the tariffs after the delay expires.
Early this morning Beijing time, and on the morning of February 27th local time, Trump publicly stated that tariffs on Mexico and Canada will take effect on March 4th, and on the same day, he will impose an additional 10% tariff on China again! The comprehensive 25% tariff on imports from Mexico and Canada, which was originally scheduled for February 3rd, has been postponed for one month to March 4th. However, there has been recent skepticism about whether the Trump administration will reinstate the tariffs after the delay expires.
Yesterday, Trump confirmed in a post on his social media platform, Truth Social, that the tariffs on Mexico and Canada will take effect as scheduled on March 4th!
Trump announced an additional 10% tariff on China.
Trump stated, without providing evidence, that despite promises from both neighboring countries to enhance border surveillance, illegal drugs "continue to flood into our country from Mexico and Canada at very high and unacceptable levels."
Trump wrote: "We cannot allow this scourge to continue harming America, therefore, until it stops or is significantly curtailed, the proposed tariffs scheduled to take effect on March 4th will indeed be implemented as planned."
Trump also announced that China, which already faces a 10% tariff on its products by the U.S., "will similarly be subjected to an additional 10% tariff on that day."
Later on Thursday morning (February 27th), a White House official confirmed to CNBC that the new tariffs on Beijing mean that the total U.S. tariffs on Chinese imports will reach 20%.
In addition to the tariffs on China, Mexico, and Canada, Trump has also ordered a 25% global tariff on imported steel and aluminum, which will take effect on March 12th.
