President Donald Trump has long threatened to raise tariffs on goods from Mexico, Canada and China.
According to foreign media, the President is arguing for the second time that higher taxes will help reduce illegal migration and the smuggling of the synthetic opioid fentanyl into the US.
On Saturday, the President confirmed that he will subject Mexican and Canadian goods to the full 25% tariff and Chinese imports to 10%, writes A2 CNN.
However, Canadian energy, including oil, natural gas and electricity, will be taxed at a rate of 10%. The taxes will take effect tomorrow.
Although the Trump administration says the changes will boost domestic production, they are likely to have broad negative consequences for the American consumer.
Economists argue that supply chains will be disrupted and businesses will experience increased costs, leading to an overall increase in prices. (A2 Televizion)
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