US President Donald Trump jested that tariffs against neighbouring countries Mexico and Canada could go higher in the future, Fox News reported on Sunday (local time). Trump said that the global community has been ripping off the US for ages.
“I think [the business community could see clarity on tariffs],” he said, addressing CEOs’ desire to see predictability for Capital Expenditure spending and shareholder purposes. “But the tariffs could go up as time goes by, and they may go up…” he added, as per Fox News.
“For years, globalists have been ripping off the United States. They’ve been taking money away from the United States, and all we’re doing is getting some of it back, and we’re going to treat our country fairly,” Fox News quoted Trump as saying.
Trump said that the US would get back at the other countries for the same, as per Fox News. “This country has been ripped off from every nation in the world, every company in the world. We’ve been ripped off at levels never seen before, and what we’re going to do is get it back,” he said.
Trump has imposed tariffs on Mexico, Canada, and China, citing the countries’ alleged border control issues leading to fentanyl pouring into the US and killing American citizens, Fox News reported.
Earlier on March 7, Trump delayed tariffs on Mexico and Canada for a short-term period for certain products before the “big one” from April 2. He said he agreed after having “fruitful conversations” with Mexico President Claudia Sheinbaum while he slammed Canada for being a “high tariff nation”.
As per an official, the modifications in tariffs against Canada and Mexico are being brought in to “protect American car manufacturers and American farmers”.
It was noted that this will thus exclude the United States-Mexico-Canada Agreement (USMCA)-eligible goods from existing tariffs. As per CNN, the USMCA was negotiated by Trump during his first term, which makes the three North American countries a free trade zone.
(With inputs from ANI)
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