Trump says he was placing prices on imports from Canada, Mexico and China from Saturday

Washington President (AP), Trump, said on Friday that he would place 25% of import prices from Canada and Mexico and 10% prices on goods from China in force on Saturday, increasing the specter of Quick price increases for American consumers when he suggested that he would try to upset the impact on oil imports.

Trump had threatened the price to ensure greater cooperation of countries on the cessation of illegal immigration and the smuggling of chemicals used for fentanyl, but he is also committed to using prices to stimulate national manufacturing and increase federal government's income.

Read more: the prices threatened by Trump could push prices in the wrong direction while American inflation persists

From tomorrow, these prices will be in place, the secretary of the table of the White House Karoline Leavittold Reporters earlier Friday. These are promises made and promises run by the president. Addressing journalists from the oval office later, Trump said that there was nothing that the three countries could not do to prevent prices from entering into force on Saturday.

The prices rule out political and economic risks for Trump, who only takes two weeks in his second term. Many voters have supported the Republican on the promise he could reduce inflation, but the possibility of prices could trigger higher prices and potentially disturb the energy, automotive, wood and L sectors 'agriculture.

Trump had declared that he weighed on an exemption for imports of Canadian and Mexican oil that he declared on Friday that he was considering a lower rate on petroleum, but it was not clear if this lower rate would be in place when he signs the order on Saturday.

I'm probably going to reduce the price a bit about it, “said Trump about oil. We believe that bringing it to 10%.

The United States has imported nearly 4.6 million barrels of oil from Canada daily in October and 563,000 barrels from Mexico, according to the Energy Information Administration. The daily production of the United States during this month was on average nearly 13.5 million barrels per day.

Trump previously said that a 10% rate on Chinese imports would know other import taxes billed on the country's products.

Shortly after Leavitt spoke, the stock market index of the S&P 500 sold and has largely erased its earnings during the day.

We must expect the three countries to retaliate, said Wendy Cutler, a former American commercial negotiator. China reacted aggressively to the prices that Trump imposed on Chinese products during his first mandate, targeting supporters of the president in rural America with reprisals on American agricultural exports.

Canada and Mexico have declared that it has prepared the option of reprisals to be used if necessary, which could in turn trigger a wider trade conflict which, according to economic analyzes, could harm growth and further accelerate the inflation.

Read more: Trump prices in Canada and Mexico could strike near you, from Autos at Autos

Canadian Prime Minister Justin Trudeau said on Friday that Canada is ready is a response if Trump goes ahead with the prices, but he did not give details.

Were ready with an answer, an immediate and reasonable but reasonable and reasonable response, he said. This is not what we want, but if he advances, we will also act.

Trudeau said the prices would have disastrous consequences for the United States, endangering American jobs and increasing prices. Trudeau reiterated that less than 1% of fentanyl and illegal passages in the United States come from Canada.

Mexican president Claudia Sheinbaum said on Friday that Mexico had maintained a dialogue with the Trump team since before his return to the White House, but she pointed out that Mexico had a plan A, plan B, plan C for what the US government decides. »»

Now, it is very important that the Mexican people know that we will always defend the dignity of our people, we will always defend respect for our sovereignty and a dialogue between equals, as we have always said, without subordination, Sheinbaum says .

Liu Pengyu, spokesperson for the Chinese Embassy in Washington, said the two countries should resolve their differences through dialogue and consultation. There is no winner in a trade war or a tariff war, which serves the interests of neither team nor the world, said Liu in a press release. Despite the differences, our two countries share enormous common interests and space for cooperation. »»

A study this month by Warwick McKibbin and Marcus Noland of the Peterson Institute for International Economics concluded that 25% prices on Canada and Mexico and 10% tariffs on China would damage all the savings involved, including UNITED STATES

For Mexico, the study said, a price of 25% would be catastrophic. In addition, the economic decline caused by the price could increase incentives to Mexican immigrants to cross the border illegally in the United States directly contradicting another priority from the Trump administration.

Cutler, now vice-president of the Asia Society Policy Institute, said that the extent of economic damage will depend on the duration of the prices in force.

If it's only a few days, it's one thing. If they are in place for weeks after months, would see disturbances of the supply chain, higher costs for American manufacturers, which has caused higher prices for American consumers, it was She declared. He could have macroeconomic impacts. This could affect the stock market. Then, internationally, this could lead to more tension with our business partners and make us more difficult for us to work with them. »»

The writers AP Didi Tang and Paul Wiseman in Washington, Jim Morris in Vancouver, Canada, and Christopher Sherman in Mexico City contributed.

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