President-elect Donald Trump said he would impose a tariff on products from Canada and Mexico until they stop flow of drugs, migrant crossings.

Summary

Donald Trump pledged to impose a 25% tariff on all products from Mexico and Canada on his first day in office, blaming them for failing to stop illegal drugs and immigration.

He also vowed to add a 10% tariff on Chinese goods until drug trafficking into the U.S. ceases.

Economists warn these tariffs could drive up consumer prices and inflation.

While violent crime has declined in recent years, Trump continues to link trade measures to border security and drug issues, echoing his first-term trade policies and immigration stance.

  • Sprokes@lemmy.ml
    0·
    1 month ago

    What are the benefits for him? All that he do is for his own good. At first I thought he was saying lies so that he can get elected. But now that he is elected, what will he gain from doing that? Won’t American suffer so does his assets?

    • Zron@lemmy.world
      0·
      1 month ago

      Recessions allow the wealthy to consolidate and expand their wealth.

      He’s going to force a huge recession so he, and all of his billionaire friends, can buy up failing companies, consolidate them, and make even more money when the economy gets recovered by someone who actually knows what they’re doing.

      Enjoy the last few months of being able to afford anything.

    • MutilationWave@lemmy.world
      0·
      1 month ago

      If all assets are lower, the billionaires can buy everything cheap then get crazy wealthy whenever (if) things are ever fixed.