The United States will increase customs duties for products from China, Canada and Mexico. Donald Trump confirmed his desire to do the same with the EU.
Foreign products will cost the United States dearly. As Donald Trump wishes, an increase in customs duties for products from China, Mexico and Canada was set up on Saturday, February 1. Although this measure has plunged Wall Street’s accounts, Donald Trump is ready to do the same with the European Union.
If customs duties increase for these three countries, which are the main trade partners of the United States, it is because of the fight against fentanyl traffic and illegal immigration. Donald Trump had issued this threat several times, against China where components are manufactured and for Canada and Mexico where traffic organized. According to the American president, these three countries do not fight sufficiently against these two phenomena. Hope remained until Saturday for Canada and Mexico, which is bound by a free trade agreement with the United States (Canada-States-Mexico ACEUM). “The president will impose 25% customs duties on Mexico tomorrow, 25% customs duties in Canada and 10% customs duties in China for illegal fentanyl they produce and which they allow distribution in Our country, “said Karoline Leavitt, spokesperson for the presidency.
Risks to the European Union?
Asked about this increase in customs duties, Friday, January 31, Donald Trump replied in the affirmative when he was asked if this could soon concern Europe.
However, trade between the European Union and the United States represent almost 30% of the world trade in goods and services and 43% of world GDP (figures for 2023 from the 2023 of the 2023 European Union Council). Regarding France, if Donald Trump’s wish was made, the increase in customs duties could apply to spirits, luxury and aeronautics. The President of the United States had spoken of it during his campaign for the White House. French and European growth would risk drastically slowing down, just like that of Canada, China and Mexico, according to estimates. The growth of the United States would also be impacted by this protectionist policy, but less strongly.