BBC News, New York, Beijing and London
Pictures of gettyPresident Donald Trump advances with 25% of rates about the goods imported from Canada and Mexico to the United States, saying that time was over to reach an agreement.
North -American stock markets sank in response to measures, which have been threatened since the beginning of this year and will have to enter into force on Tuesday.
It is also expected that there will be an additional rate of 10% of Chinese imports, leaving the first three commercial partners in the United States that face significantly higher trade barriers than a few weeks ago.
« There is no room to Mexico or Canada, » Trump told the White House on Monday. « The rates, you know, are all ready. Tomorrow come into force. »
Trump threatened to impose the rates, which is a tax that adds to a product when he enters a country, Canada, Mexico and China in response to what he says is the unacceptable flow of illegal drugs and migrants not documented in the United States.
He had already imposed a 10% rate on Chinese exports in the United States last month, which means that the country’s goods are now facing a rate of at least 20%.
The three countries have said that they will be retaliated against the United States in response to rates, increasing the possibility of a trading war wide.
Canada’s Foreign Minister Melanie Jole said that the rates are « an existential threat to us » with « thousands of jobs in Canada at stake ».
He said that Canadian officials have had « constructive conversations » with the Trump administration to try to avoid 25%taxes, but they warned « we are prepared with rates against ».
Trump has long maintained that rates are a useful tool for correcting commercial imbalances and protecting U.S. manufacturing.
It has largely rejected concern for the measures to risk economic damage to the United States, despite the close links, especially in North America, where companies have enjoyed decades of trade.
« What they will have to do is build car plants, frankly, and other things in the United States, in this case they have no rates, » he added.
The three major rates in the United States sank after Trump’s comments. The industrial average of Dow Jones ended the day by 1.4%, the S&P 500 sank 1.75%and the Nasdaq fell by 2.6%.
Canada and Mexico officers had been in Washington in recent days, trying to avoid rates.
Mexico President Claudia Sheinbaum seemed to send a message to Trump on Monday before he said at a public event in the city of Colima that « Mexico must be respected ».
« Cooperation (I) Coordination, yes, subordination, never. »
Canadian Prime Minister Justin Trudeau said on Sunday, from a summit in Ukraine in London, that Canada was not « a problem » as an illegal fentanil source in the United States.
According to the United States, it is only believed that 1% of Fentanyl captured in the United States comes from Canada.
The Canada Border Services Agency (CBSA) says he has been « increasing » his efforts to face Fentanyl’s crossing in the United States.
Canada has repeatedly said that the rates would harm the two economies, but added that it will be defended if they happen.
Last month, he prepared a list of North -American products worth $ 30 million (£ 23.6 million), which he said he would charge in response to US rates. Items on this list included everyday products such as pasta, clothing and perfume.
Canadian internal trade minister Anita Anand met officials in Washington in recent days and said that there will be a response over the weekend.
« We are constant behind the wheel. We are ready for any eventuality, but we will defend the economy of our country in each turn », » Told CBC News.
The Global Times, led by the State of China, said that Beijing had prepared Contramers, which would probably be addressed to United States agricultural and food products.
President Trump has also announced a 25% position in all imports of steel and aluminum, which wants to enter into force on March 12.
In addition, he has threatened to impose personalized « reciprocal » rates on individual countries, as well as 25% of rates in the European Union.
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