A statement by the newly elected US President Donald Trump has led to a decline in the currencies of Canada, Mexico and China. According to the New York Times, Mexico’s currency Peso weakened by 1.18% against the dollar in a day. At the same time, Canada’s currency Canadian dollar has weakened by 1% against the US dollar. This is the biggest decline in Canada’s currency since May 2020. At the same time, China’s currency Yuan has also declined. However, it is less than Mexico. The Chinese currency Yuan has weakened by 0.3% against the dollar. In fact, Trump has announced that as soon as he takes the oath of office as President, he will impose heavy tariffs on goods coming to America from Canada, Mexico and China. Trump has said that until these three countries do not curb drugs and illegal immigrants, they will have to bear the brunt of heavy tariffs imposed by America. The highest tariff will be imposed on China. Trump said in a post on social media on Monday that he would impose a 25% tariff on Canada and Mexico. He said that both Canada and Mexico can easily curb illegal immigrants and drugs (fentanyl) supply if they want, but they are not doing so. Due to this, they will have to pay a heavy price. At the same time, Trump has announced to impose 35% tariff on China. This is 10% more than the tariff imposed on Mexico and Canada. Trump said- China sends huge amount of drugs to America illegally. I had raised this issue in front of China earlier also. Then the Chinese officials had promised that they would make a law for death penalty if drug dealers are caught, but they did not do so. Inflation will increase due to Trump’s tariff war. It is worth noting that America has a free trade agreement with Canada, Mexico and China. Under this, there is no tariff on any kind of import-export between these countries. Trump had signed the North America Free Trade Agreement (NAFTA) with Mexico and Canada in his previous tenure. If Trump imposes tariff on these countries after coming to power, then it will be a violation of the agreement. These three countries bought goods worth more than $1 trillion (about Rs 85 lakh crore) from the US in 2023. At the same time, they sold goods worth more than $1.5 trillion. According to the report, Trump’s tariff war will have the biggest impact on the auto sector, agriculture, technology, parts. After the imposition of tariffs, the price of these things will increase. China said – no one will win in a trade war. Liu Pengyu, spokesperson of the Chinese Embassy in Washington, said that last year there was a conversation between US President Joe Biden and Chinese President Xi Jinping. In this, steps were taken to deal with drug smuggling. But it is not correct to say that China is deliberately supplying drugs like fentanyl to the US. Liu said that China-US trade is beneficial for both countries. There should be no tampering with it. No one will be able to win in a trade war. Canada said – will discuss this issue with Trump. The office of Canadian Prime Minister Justin Trudeau has issued a statement saying that Canada is necessary for energy supply in the US. Last year, 60% of the oil used by the US came from Canada. He will discuss these issues with the Trump team. Mexican officials have not yet responded to Trump’s post. However, Trump has threatened to impose tariffs against Mexico earlier as well. In the last days of the election campaign, he had threatened to impose tariffs up to 100% on all goods coming from Mexico. Then Mexican officials had said that they are also ready to impose tariffs. According to the report, Mexico may suffer the most from Trump’s tariff war. This country is very dependent on America. It sells about 80% of its goods to America. ………………………………………….. Also read this news related to Trump… Trump appointed former President Kennedy’s nephew as Health Minister: This time he also contested the Presidential election, America’s newly elected President Donald Trump, who was against the vaccine, is making appointments to important posts in his government. Trump has appointed Robert F. Kennedy Jr. as Health Minister. He will have the responsibility of the US Department of Health and Human Services (HHS). Read the full news here…
