This percentage of United States purchases will be subject to new 25% tariffs on products from Mexico and Canada, with an exception of 10% for energy goods, while imports from China will face a 10% tax.
By country, Mexico is the main supplier of goods for the United States, with a value of 466.6 billion dollars in imports.
China occupies second place, with 401.4 billion dollars, and Canada El Tercero, with 377.2 billion dollars.
No matter the cost …
Despite Trump’s support for these tariffs, experts warn that the measure could harm the US economy and increase the cost of living.
According to Trump, in the last four years, Joe Biden’s administration policies caused a historical inflationary crisis in the United States, but paradoxically, analysts warn that their tariff policy could aggravate these problems.
“Today, working families are overwhelmed by the cost of fuel, food, housing, cars, medical care, public services and insurance,” Trump said in one of their first executive orders.
According to the Think Tank Tax Foundation, if tariffs are permanently imposed:
- The tax cost per household would increase by $ 830 a year.
- The economy would be reduced to 0.4%.
- 344,000 jobs would be lost.
Even so, Trump maintains his firm posture. In his social truth network, he wrote:
“This will be the Golden Age of the United States! Will there be any pain? Yes, maybe or maybe not . But we will make the United States great again, and it is worth the price to be paid. We are a country that is now managed with common sense, and the results will be spectacular! “
Who wins in this commercial war?
In a commercial war it is said that there are no winners, but some countries have managed to capitalize on the previous tariff disputes.
For example, Mexico benefited when Trump imposed tariffs on China in 2018, becoming the main commercial partner of the United States.
In 2018, Mexico’s participation in American imports was 13.6%, while China’s was 21.2%.
By 2024, Mexico increased its participation to 15.6%, while China fell to 13.5%.
Now, with the new commercial war against Mexico and Canada, other countries could take advantage of the opportunity, such as Vietnam, South Korea and Taiwan, which have been gaining ground in the United States import market.
Time will say who really benefits from these measures and if the high cost of tariffs will give the results Trump promises.
