US President Donald Trump said he would follow his threat to hit imports from Canada and Mexico with 25% border taxes called prices on February 1.
But he added that a decision as to whether it would include oil from these countries has not yet been taken.
Addressing journalists from the oval office, Trump said that this decision was aimed at approaching the large quantities of undocumented migrants and the fentanyl that are found on American borders as well as trade deficits with its neighbors.
The president also suggested that he still planned to impose new prices on China, which, according to earlier, would be 10%, but has given no details.
“With China, I also think of something because they send fentanyl to our country, and because of that, they make us cause us hundreds of thousands of dead,” said Trump.
“China will therefore end up paying a price also for that, and we are doing it.”
During the electoral campaign, Trump threatened to hit Chinese manufacturing products with prices of up to 60%, but held any immediate action on his first day to return to the White House, ordering his administration to study the problem.
American imports of goods from China has been flattened since 2018, a statistics that economists have partially attributed to a series of increasing rates that Trump imposed during his first mandate.
Earlier this month, a senior Chinese official warned against protectionism while the return of Trump, the presidency, renews the threat of a trade war between the two biggest economies in the world – but did not mentioned the United States by name.
Addressing the World Economic Forum in Davos, Switzerland, Ding Xuexiang, Vice-Prime Minister of China, said that his country was looking for a “win-win” solution to exchange tensions and wanted to extend its imports.
Canada and Mexico have said they would respond to American prices with their own measures, while seeking to ensure Washington that they were taking measures to respond to concerns about their American borders.
Prices are an import tax on goods made abroad.
In theory, articles trying in a country mean that people are less likely to buy them as they become more expensive.
The intention is that they rather buy cheaper local products – stimulate the economy of a country.
