WORLD NEWS FOR MONTENEGRO DIASPORA
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AUTHOR:M.J. GDNUS
US President Donald Trump has imposed sweeping 25 percent tariffs on Mexico and Canada, a move aimed at forcing major US trading partners to back down.
But the move threatens to weaken the North American economy, including the United States, at a time of significant economic tensions.
Trump also doubled tariffs on all imports from China, from 10 percent to 20 percent. These tariffs come on top of existing tariffs on hundreds of billions of dollars worth of Chinese goods.
"While President Trump has given both Canada and Mexico ample opportunity to curb the dangerous cartel activities and the flow of deadly drugs into our country, they have failed to adequately address this situation," the White House said in a statement released shortly before the tariffs went into effect.
The measures come at a time when inflation remains a serious problem. Americans, and the U.S. economy as a whole, are on shaky ground, as recent economic data confirms.
The tariffs threaten to raise the prices of a wide range of products that Americans import from these three countries.
According to the Commerce Department, Mexico, Canada, and China shipped $1.4 trillion worth of goods to the U.S. last year, accounting for more than 40 percent of the total value of all goods imported by the United States.
