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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Tariff hammer drops! Donald Trump blames China for drug crisis in U.S, hits back hard with double tariffs in latest salvo; stock markets tank
trade war, moving ahead to implement tariffs that could unsettle Wall Street, as per a report.
Trump posted on Truth Social, that tariffs on imports from Canada and Mexico would come into effect from March 4, reported Yahoo Finance. The president also declared an extra 10% tariff on China.
Are drugs coming from China?
According to the report, Trump attributed the action as a direct reaction to the «unacceptable levels» of drugs entering the US from Canada and Mexico, a flow he asserts is being driven by China. In his post, he highlighted the necessity of halting the «scourge» of illegal drugs entering the nation.
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The president wrote in the post, «We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect,» quoted Yahoo Finance.
This new development comes after Trump's earlier indication that the tariffs may not start until April. But his Truth Social post claimed that the tariffs would take effect within days, as per the report.
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