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Trump vows 25% tariffs on goods from Mexico and Canada over border security. What would they do?

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
President-elect Donald Trump promised to impose a 25% tariff on all goods from Mexico and Canada on his first day in office. Imports from Mexico and Canada totaled $900 billion in 2023. Trump has proposed tariffs as a solution to government funding.
The article from Deseret News discusses the potential implications of former President Donald Trump's proposed tariffs on Mexico and Canada if he were to return to office. Trump has suggested implementing a 10% tariff on all imports, which would significantly affect trade with these neighboring countries. Proponents argue that such tariffs could protect American industries, reduce trade deficits, and encourage domestic production. Critics, however, highlight several cons: these tariffs could lead to higher prices for consumers, provoke retaliatory tariffs from Mexico and Canada, disrupt integrated supply chains, and potentially harm U.S. exporters. The article also mentions the economic interdependence of the U.S., Mexico, and Canada under agreements like the USMCA, suggesting that any tariff imposition could strain these relationships and lead to economic instability. Additionally, there's a discussion on how these policies might be used as leverage in negotiations, but the overall consensus leans towards caution due to the potential for economic fallout.

Read the Full deseret Article at [ https://www.deseret.com/politics/2024/11/26/trump-tariffs-mexico-canada-pros-cons/ ]