U.S. President Donald Trump has announced that if the issue of synthetic drugs entering the U.S. is not resolved, he will proceed with the 25% tariffs on Canada and Mexico, which were previously deferred on March 4 as scheduled, and impose an additional 10% tariff on China on the same day.
Recently, Trump has raised tariffs on China, a rival for global dominance, and allied nations such as Europe and Canada. This has significantly increased the likelihood of a global trade war originating from the U.S., which is viewed as a negative factor for South Korea’s export-dependent economy.
On Thursday, Trump posted on the social media platform Truth Social, mentioning the responsibility of China, Canada, and Mexico regarding the influx of the synthetic drug fentanyl into the U.S. He stated that the crisis cannot be allowed to continue harming the country.
He emphasized that unless the influx is stopped or significantly restricted, the tariffs scheduled to take effect on March 4 (targeting Mexico and Canada) will be enforced as planned. He added that China will also be subjected to an additional 10% tariff on the same day.
On February 4, Trump announced that he would impose a 25% tariff on Mexico and Canada and an additional 10% tariff on China. However, after Mexico and Canada agreed to cooperate in strengthening border security to crack down on illegal immigration and drug trafficking, he granted a one-month deferral on the tariffs for the two countries.
Nevertheless, he proceeded with the additional tariffs on China as scheduled. In response, China retaliated by imposing counter-tariffs on certain U.S. products starting on February 10.
Earlier, on Wednesday, Trump also declared to impose 25% tariffs on imports from the European Union, claiming that the economic and political bloc was formed to screw the U.S. Additionally, he stated that starting in April, the U.S. will implement reciprocal tariffs, adjusting its tariffs to match those imposed by its trading partners.