Trump to impose tariffs on imports from Mexico, Canada, and China: date.
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The Trump administration has announced an increase in trade tensions with key U.S. trading partners. The president stated that tariffs on imports from Canada and Mexico will take effect from March 4 'according to schedule,' while China faces an additional 10% tariff.
Drugs continue to flow into our country from Mexico and Canada at an unacceptably high level. A large amount of these drugs, many of which are in the form of fentanyl, are produced and supplied by China.
The economic consequences of this decision are being felt immediately - stocks are falling, bond yields are rising, and the U.S. dollar has sharply appreciated.
Earlier, during the election campaign, Trump spoke of the possibility of implementing 60% tariffs on Chinese imports, and then proposed an additional 10% due to the fentanyl issue. Ultimately, he set only 10% tariffs at the beginning of this month.
Trump temporarily suspended tariffs on imports from Canada and Mexico after leaders of these countries took initial steps to reduce the flow of drugs. However, these planned 25% tariffs will come into effect next week.
The decision to impose tariffs is being made amid rising adverse consumer sentiment due to expected sharp increases in inflation, with tariffs considered a contributing factor.
According to The New York Times, British Prime Minister Keir Starmer was set to meet with President Trump to influence the United States and persuade them not to abandon Ukraine. Attendees at the rally expressed support for Starmer in support of Ukraine.
The Trump administration continues to cut federal jobs by implementing a memorandum requiring the preparation of plans for 'massive cuts' to federal government employees in March and April. Many workers have already been laid off, and the personnel office has reported the possibility of severance calculations based on seven months of salary and benefits.
In the judicial sphere, a federal district judge allowed the CIA director to dismiss employees of the intelligence service who were engaged in cultural diversity. The judge stated that he would have ruled otherwise, but the laws grant the CIA director unlimited authority to dismiss employees at his discretion and without review.
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