South Asian News Network

President Donald Trump has declined to disclose his intentions to tax Chinese goods, but he has announced plans to put 25% tariffs on Canada and Mexico beginning February 1, 2025. Throughout his campaign, Trump vowed to impose tariffs of up to 60% on China; however, following a phone conversation with Chinese President Xi Jinping, he seems to have softened his intentions. He is sure that by controlling inflation and lowering energy prices, his executive initiatives would boost the economy. One of the nations that depends on trade the most, Canada, stated that it was prepared to strike back following Trump’s statement. Trump attributed inflation on the $1.9 trillion in pandemic assistance that then-President Joe Biden gave in 2021.