President Donald Trump is pushing ahead with aggressive new tariffs on imports from Mexico and Canada, escalating his trade war strategy, despite warnings from economists that it could raise prices for Americans and slow economic growth.
Trump confirmed Thursday that a 25 percent tariff on goods from Mexico and Canada will take effect February 1, while also reaffirming plans to increase tariffs on Chinese imports by an additional 10 percent.
However, he left room for adjustments, telling reporters the final details are still being worked out, including whether oil from Canada will be included.
The president also signed an executive order directing federal agencies to develop an “America First” trade policy, including potential tariffs on all imported goods.
He hasn’t set a timeline for broader tariffs, but while the president claims the tariffs will strengthen the economy, history suggests otherwise.
Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.
The post Trump’s Tariff Plan: Higher Prices, Job Losses, and Economic Risks appeared first on American Urban Radio Networks.
