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class="mb-2 font-lct text-4xl font-bold !leading-[1.3] tracking-[-0.045rem] text-gray-850 md:px-6 md:text-10xl">Trump vows to slap 10% tariffs on China, 25% tariffs on Mexico, Canada</h1><div class="mb-6 md:px-6 min-h-[50px] text-gray-850 mt-4 space-y-4 md:flex md:flex-wrap md:space-y-0" data-testid="article-authors-list-component"><div class="flex items-center"><img class="flex-shrink-0 rounded-full" src="/assets-web2/default-BSkyYMCQ.png" width="50" height="50"/><div class="flex flex-col flex-wrap pl-2"><div class="font-public-sans text-xs font-normal leading-6 text-gray-650"><span data-testid="article-published-time">Published Tue, Nov 26, 2024 · 09:22 AM</span></div></div></div></div><div class="mb-3 flex items-center justify-between border-b border-t border-gray-250 py-3 md:mx-6 md:mb-6 md:py-4"><div data-testid="article-keyword-filter-first" class="w-full"><div data-testid="article-top-keyword" class="p-3 inline-block w-full bg-transparent !p-0 relative"><div class="group 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focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 md:-mr-[2.75rem] min-[1040px]:-right-4 right-0 bg-white aspect-square w-auto" data-size="sm"><div class="flex h-full w-full items-center justify-center"><img src="data:image/svg+xml,%3csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2016%2016'%20fill='%232b2b2b'%3e%3cpath%20d='M4.646%201.646a.5.5%200%200%201%20.708%200l6%206a.5.5%200%200%201%200%20.708l-6%206a.5.5%200%200%201-.708-.708L10.293%208%204.646%202.354a.5.5%200%200%201%200-.708z'/%3e%3c/svg%3e" width="18" height="18"/></div></button></div><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div class="relative h-full"><div class="mx-auto aspect-3x2 w-full max-w-[1400px] bg-gray-250"></div></div></li></ul></div></div><div class="splide"><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div><div class="py-2 px-3 font-poppins text-xs text-gray-850 md:px-8">Many economists have warned that tariffs would hurt growth and push up inflation, since they are primarily paid by importers bringing the goods into the US, who often pass those costs on to consumers. PHOTO: REUTERS</div></div></li></ul></div></div></div><div></div><div class="body-content tracking-tighter mb-6 mt-4 font-lucida text-lg font-medium leading-normal tracking-[-0.05625rem] text-gray-850 antialiased md:px-8 md:text-xl" data-testid="article-paragraphs-component"><div class="relative mb-4 md:mb-6"><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">US PRESIDENT-ELECT Donald Trump said Monday he intends to impose a 25 per cent tariff on goods from Mexico and Canada, along with a 10 per cent tariff on imports from China in response to the illegal drug trade and immigration.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">In a series of posts to his Truth Social social media account, Trump vowed to hit some of the United States’ largest trading partners with sweeping tariffs on all goods entering the country.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">“On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25 per cent tariff on ALL products coming into the United States, and its ridiculous Open Borders,” he wrote.</p><div class="my-8 md:my-12 w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0;margin-bottom:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="relative mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div id="dfp-ad-imu1" class="ad-placeholder flex flex-col items-center justify-center" data-testid="dfp-ad-imu1" data-ad-type="imu1" data-ad-index="0" data-ad-article-id="5400464" data-ad-article-tags="tariffs,donald trump,us politics,mexico,china,united states" data-ad-gs-channels=""></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">In another post moments later, the past and future president said he would also be slapping China with a 10 per cent tariff, “above any additional Tariffs,” on all of its products entering the US in response to its failure to tackle fentanyl smuggling.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Tariffs are a key part of Trump’s economic agenda, with the Republican president-elect vowing wide-ranging duties on allies and adversaries alike while he was on the campaign trail ahead of his Nov 5 victory.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Many economists have warned that tariffs would hurt growth and push up inflation, since they are primarily paid by importers bringing the goods into the US, who often pass those costs on to consumers.</p><div class="mb-6 mt-8 border border-gray-175 p-6 md:-mx-8 md:mt-0 md:p-8" data-testid="article-read-more"><div><div class="mb-6 border-b border-gray-850 pb-2 !font-poppins text-base font-semibold leading-normal tracking-5% text-gray-850 md:text-lg">SEE ALSO</div><div data-testid="section-article-read-more"><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5389873" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/international/threat-trump-tariffs-looms-europes-leaders-seek-greater-unity" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/002fca15b7f2a30088d93d1102c3feb088e062086740946953e5dc1a53ffe564?w=180&h=120&dpr=1&f=webp 1x"/><source media="(min-width: 768px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/002fca15b7f2a30088d93d1102c3feb088e062086740946953e5dc1a53ffe564?w=140&h=100&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/002fca15b7f2a30088d93d1102c3feb088e062086740946953e5dc1a53ffe564?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/002fca15b7f2a30088d93d1102c3feb088e062086740946953e5dc1a53ffe564?q=20&w=3&h=2&f=webp" loading="lazy" alt="Experts note that President-elect Donald Trump tends to favour bilateral trade agreements and may try to cut deals with individual European countries. 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!text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5389154"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="Trump names hedge fund manager Scott Bessent as Treasury chief" href="/international/trump-names-hedge-fund-manager-scott-bessent-treasury-chief" target="_blank"><span class="inline-block hover:underline">Trump names hedge fund manager Scott Bessent as Treasury chief</span></a></h3></div></div></div></div><div data-testid="section-related-stories" class="overflow-hidden transition-all duration-300" style="height:0"><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5400143" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/international/judge-grants-dismissal-election-subversion-case-against-trump" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/06e13daf75ecf712e7bac11af9697a7ad3b794281d6a75f93c45c45db8ad2ef9?w=180&h=120&dpr=1&f=webp 1x"/><source media="(min-width: 768px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/06e13daf75ecf712e7bac11af9697a7ad3b794281d6a75f93c45c45db8ad2ef9?w=140&h=100&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/06e13daf75ecf712e7bac11af9697a7ad3b794281d6a75f93c45c45db8ad2ef9?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/06e13daf75ecf712e7bac11af9697a7ad3b794281d6a75f93c45c45db8ad2ef9?q=20&w=3&h=2&f=webp" loading="lazy" alt="Donald Trump was accused of conspiring to overturn the results of the 2020 election he lost to Joe Biden and removing large quantities of top secret documents after leaving the White House, but the cases never came to trial." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-full-120px lg:w-2/3 order-2 text-white"><h3 class="_title_d4ajx_12 !text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5400143"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="Judge grants dismissal of election subversion case against Trump" href="/international/judge-grants-dismissal-election-subversion-case-against-trump" target="_blank"><span class="inline-block hover:underline">Judge grants dismissal of election subversion case against Trump</span></a></h3></div></div></div><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5400137" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/companies-markets/banking-finance/trump-crypto-project-gets-us30-million-investment-justin-sun" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/33c375ce4fe7285b45237d79e12a528d7411bcad8bf062aa1d2bb33613ae281b?w=180&h=120&dpr=1&f=webp 1x"/><source media="(min-width: 768px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/33c375ce4fe7285b45237d79e12a528d7411bcad8bf062aa1d2bb33613ae281b?w=140&h=100&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/33c375ce4fe7285b45237d79e12a528d7411bcad8bf062aa1d2bb33613ae281b?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/33c375ce4fe7285b45237d79e12a528d7411bcad8bf062aa1d2bb33613ae281b?q=20&w=3&h=2&f=webp" loading="lazy" alt="Donald Trump has been a recent and vocal proponent of digital assets such as Bitcoin." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-full-120px lg:w-2/3 order-2 text-white"><h3 class="_title_d4ajx_12 !text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5400137"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="Trump crypto project gets US$30 million investment from Justin Sun" href="/companies-markets/banking-finance/trump-crypto-project-gets-us30-million-investment-justin-sun" target="_blank"><span class="inline-block hover:underline">Trump crypto project gets US$30 million investment from Justin Sun</span></a></h3></div></div></div><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5400107" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/international/biden-attend-trump-inauguration-even-though-trump-skipped-bidens" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/f604e785246226a312dba0c072cb495c421868c3a667c28f509834606d7c224c?w=180&h=120&dpr=1&f=webp 1x"/><source media="(min-width: 768px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/f604e785246226a312dba0c072cb495c421868c3a667c28f509834606d7c224c?w=140&h=100&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/f604e785246226a312dba0c072cb495c421868c3a667c28f509834606d7c224c?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/f604e785246226a312dba0c072cb495c421868c3a667c28f509834606d7c224c?q=20&w=3&h=2&f=webp" loading="lazy" alt="US President Joe Biden meets with US President-elect Donald Trump in the Oval Office of the White House in Washington, US, Nov 13, 2024. " class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-full-120px lg:w-2/3 order-2 text-white"><h3 class="_title_d4ajx_12 !text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5400107"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="Biden to attend Trump inauguration even though Trump skipped Biden’s" href="/international/biden-attend-trump-inauguration-even-though-trump-skipped-bidens" target="_blank"><span class="inline-block hover:underline">Biden to attend Trump inauguration even though Trump skipped Biden’s</span></a></h3></div></div></div></div><div class="w-full"><div class="cursor-pointer place-self-center border-t border-gray-175 pt-3 text-right !font-poppins text-base font-semibold capitalize tracking-normal !text-gray-850 [@media(hover:hover)]:hover:underline">More</div></div></div></div><div class="w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0;margin-bottom:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="relative mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div id="dfp-ad-midarticlespecial" class="ad-placeholder flex flex-col items-center justify-center" data-testid="dfp-ad-midarticlespecial" data-ad-type="midarticlespecial" data-ad-index="0" data-ad-article-id="5400464" data-ad-article-tags="tariffs,donald trump,us politics,mexico,china,united states" data-ad-gs-channels=""></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">But those in Trump’s inner circle have insisted that the tariffs are a useful bargaining chip for the US to use to push its trading partners to agree to more favourable terms, and to bring back manufacturing jobs from overseas. AFP</p></div><div class="mb-6 border-t border-gray-175"><section class="mx-auto my-4 w-full" data-testid="article-purchase-link-component"><section class="mx-auto flex w-full flex-wrap items-center justify-between gap-4 lg:gap-0 lg:px-3" data-testid="article-purchase-link-version-2-component"><p class="mb-0 font-public-sans text-xs tracking-normal">Share with us your feedback on BT's products and services</p><div class="flex flex-wrap"><a class="!outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] data-[size=xs]:h-[24px] font-semibold text-xs tracking-[0.02em] w-fit-content px-6 !text-gray-850 !no-underline" href="https://subscribe.sph.com.sg/contact-us/" 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