Podcast host Josh Holmes weighs in after President Donald Trump took to social media to elucidate his plan to implement tariffs and discusses Elon Musk’s remarks in the course of the first Cupboard assembly.
President Donald Trump stated on Monday that tariffs will go on “external” agricultural merchandise in early April.
“To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold inside of the United States. Tariffs will go on external product on April 2nd. Have fun!” Trump posted Monday on Reality Social.
The announcement comes as tariffs in opposition to main U.S. buying and selling companions are set to take impact at midnight. Trump delayed imposing 25% tariffs on Canadian and Mexican following last-minute concessions from each nations. Officers from the North American nations have carried out negotiations with the Trump administration in latest weeks, however no settlement to cut back the incoming tariffs has been introduced.
WHAT ARE TARIFFS, HOW DO THEY WORK AND WHO PAYS FOR THEM?
Chinese language imports would even be hit with one other 10% tariff at midnight on Tuesday. The president beforehand already imposed a ten% levy on Chinese language imports earlier this 12 months.
The White Home beforehand stated the tariffs have been being imposed to carry the nations “accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.”
Final week, Trump posted on Reality Social that unlawful medication are nonetheless coming into the U.S. at “high and unacceptable levels.”
WHAT’S HAPPENING WITH TRUMP’S TARIFFS ON CHINA, CANADA AND MEXICO?
“We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled,” he wrote including, “China will likewise be charged an additional 10% Tariff on that date.”
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FOX Enterprise’ Anders Hagstrom contributed to this report
