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Trump faces tariff backlash from business as trade war sparks inflation fear

Trump faces tariff backlash from business as trade war sparks Trump faces tariff backlash from business as trade war sparks

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Donald Trump faced a violent reaction from business groups and some of them in his Republican party after the launch of a commercial war by imposing a severe tariff on the three largest commercial partners in the United States.

Commercial associations representing consumer goods, oil and automotive industries line up to warn that the new Trump tariff – which included 10 percent of the customs tariffs on imports from China, and 25 percent on all imports from Mexico and Canada, with the exception of Canadian energy – will increase prices for Americans Orders and cause chaos in supply chains.

“The president is right to focus on major problems such as our broken borders and fentanels, but imposing definitions. John Murphy, the first vice president of the American Chamber of Commerce, said the largest commercial group in the United States, will not solve these problems, and will not only raise the prices of American families.

Consumer products groups have warned that Americans will be more expensive than groceries, while car manufacturers have warned that the definitions would raise the cost of building vehicles in the United States.

“The customs tariff for all the goods imported from Mexico and Canada-especially on the components and inputs not available in the United States-can lead to High prices of consumers and revenge against American exporters. ” Consumer brands Association.

Three separate trade groups, representing the Mexican Tikila, the United States of Borbon and Kindy, warned that the trade war in North America will exacerbate the slowdown in selling lives and alcoholic beverages.

Criticism comes a day after Trump imposed a very declining tariff on Canada, Mexico and China, which led to the summit of economic nationalism to the top of his agenda while he was dizzy against the American trade deficit with its trading partners.

In response, Canadian Prime Minister Justin Trudeau has announced $ 255 billion ($ 107 billion), including American alcohol, clothes, home appliances and wood.

Mexico President Claudia Xinbum was expected to announce the definitions soon after warning against reprisals.

Trump rose his attacks on trade partners in the United States on Sunday, where he was transferred to the social media of the railway against the American trade deficit and repeated his demand that Canada become a “state 51”.

We pay hundreds of billions of dollars to support Canada. Why? ”He posted on the social truth.

“No reason. We don’t need anything they have. We have unlimited energy, we must be our own cars, and we have more wood than we can use. Without this tremendous support, Canada has stopped being as a viable country. Harsh but real! Therefore,, Canada must become our 51st condition.

Legislators, including Tim Scott, were exposed to the Republican Senator in South Carolina, who described them as “none of Carolinin South.”

“I understand and appreciate the willingness to take doubtful measures for countries such as China, which breaks and constantly ignores the bases, but the treatment of our long -term allies in the same way is not fruitful at best,” Scott wrote on X.

Democrats in Congress criticized Trump’s step.

“These definitions take a heavy hammer where it is necessary to be one of the projects, and the American people will pay the price,” said Richard Neil, the largest Democrat in the House of Representatives Committee, who supervises commercial policy.

Neil added: “The targeted and studied measures aimed at specific industries can protect American interests and workers, and to show comprehensive policies.” “This is not what the president does.”

The Peterson Institute estimated last month that Trump’s threatened sanctions will lead to economic damage to all concerned countries, including the United States.

A 25 percent tax was estimated at imports from Canada and Mexico with a strike of about 200 billion dollars to the US economy throughout the Trump period. The economic strike of the United States will be the higher definitions of Chinese imports of $ 55 billion. The United States will also enlarge.

Goldman Sachs research analysts wrote on Sunday that “the definitions are likely to be temporary” because of their potential economic impact and White House conditions to remove them.

The Investment Bank had previously estimated that the long -term collective tariffs by 25 percent over imports from Canada and Mexico will raise the prices of basic personal consumption expenses by 0.7 percent.

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2025-02-02 17:10:00


#Trump #faces #tariff #backlash #business #trade #war #sparks #inflation #fear

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