US President Donald Trump warns of potential tariff hikes on neighboring nations, citing longstanding economic exploitation of America.
Washington DC, March 10: US President Donald Trump has hinted at the possibility of raising tariffs on Mexico and Canada in the future, asserting that the global community has been taking advantage of the United States for years. His remarks, made during a business forum, reinforced his stance on economic nationalism and trade protectionism.
During the interaction with CEOs, when asked about clarity regarding tariff policies for capital expenditure planning, Trump responded with a characteristic quip:
"The tariffs could go up as time goes by, and they may go up..."
Trump accused globalists of exploiting the United States, vowing to reclaim the nation's economic strength.
"For years, globalists have been ripping off the United States. They've been taking money away from the United States, and all we're doing is getting some of it back. We're going to treat our country fairly," Trump stated.
The President further emphasized that his administration would retaliate against nations that have profited at America's expense, citing unfair trade practices.
"This country has been ripped off from every nation in the world, every company in the world. We've been ripped off at levels never seen before, and what we're going to do is get it back," he declared.
Tariff Policies and Their Impact
Trump's administration has reinstated and expanded tariffs on Mexico, Canada, and China, justifying them as a necessary measure to protect American industries. His primary concerns include border control failures leading to an influx of fentanyl into the US, which he claims has contributed to rising drug-related deaths.
Earlier on March 7, Trump temporarily delayed certain tariffs on Mexico and Canada, following what he described as "fruitful conversations" with Mexican President Claudia Sheinbaum. However, he criticized Canada for being a "high-tariff nation", particularly in sectors like dairy and lumber.
According to officials, the tariff modifications are aimed at shielding American automobile manufacturers and farmers from unfair competition. Notably, goods that qualify under the United States-Mexico-Canada Agreement (USMCA) will be exempt from existing tariffs.
The USMCA, a landmark free trade agreement, was originally negotiated by Trump during his first term to facilitate smoother trade across North America. However, his latest statements indicate that tariff tensions could escalate in the near future, particularly as the US gears up for a presidential election cycle where economic policies will be a central debate.
With Trump's protectionist trade policies back in focus, businesses and international markets are bracing for potential disruptions in cross-border trade with North America’s largest partners.
Tags: Donald Trump, US Tariffs, Trade Policy, Mexico-US Relations, Canada-US Trade, USMCA, Global Trade, US Economy, Tariff Wars, Economic Nationalism
Last Updated on March 10, 2025 by Sandeep
