Before and after the results of the US election came out, the information that Trump mentioned in the interview that he would impose a 60% tariff on China has been hyped by the market. Recently, Trump has once again expressed his position on the issue of tariffs. This time, not only China is "shot", but also the United States' neighbors Canada and Mexico.
On November 25, local time, US President-elect Trump said that "due to the influx of illegal drugs such as narcotics", he would impose a 10% tariff on all goods imported from China. In this regard, Liu Pengyu, a spokesman for the Chinese Embassy in the United States, said on social media that Sino-US economic and trade cooperation is essentially mutually beneficial. No one will win in a trade war or a tariff war.
Earlier, the United States' neighbors Canada and Mexico also took the lead in suffering from the tariff stick. According to CCTV News, on the 25th local time, US President-elect Trump said that a 25% tariff would be imposed on all products entering the United States from Mexico and Canada. In an interview last year, Trump proposed a 10% general tariff on all imported goods. In November this year, a study by the National Retail Federation (NFR) pointed out that if the new tariff plan proposed by Trump is implemented, American consumers may lose up to $78 billion in annual spending power. The study shows that these tariffs will affect consumer categories such as clothing, toys, furniture, electrical appliances, footwear and travel goods. A Reuters analysis pointed out that in recent years, American consumers have become more frugal and reduced non-essential spending, which has put sales pressure on retailers and consumer goods companies. Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation, said that retailers rely on imported goods and manufacturing components in order to provide diversified and reasonably priced goods. If these import tariffs are implemented, the economic burden on low-income families will be even heavier, because the tariffs will eventually be passed on to consumers, leading to higher prices.
