President Trump is slated to make good on his campaign promise and enact steep tariffs on the country’s top three trading partners Saturday.
For months, Trump has threatened Canada and Mexico with import taxes as high as 25 percent, which experts say could immediately increase domestic food and fuel prices. He has also called for an additional 10 percent tariff to be placed on China.
The president has claimed these taxes are necessary to offset economic harms, but also alleged Canada and Mexico are refusing to take the steps to curb the flow of migrants and fentanyl to the U.S.
“Look, Mexico and Canada have never been good to us on trade,” he said Thursday during remarks from the White House, adding, that “they’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have.
The markets slipped on Friday in anticipation of the tariffs on the countries while Trump has consistently brushed off potential costs from the move.
On Friday, he also vowed to implement aggressive tariffs on semiconductor chips, pharmaceuticals, steel, aluminum, and oil and gas. He hinted that these taxes would come into effect in the coming weeks.
Also on Saturday, in Maryland, the Democratic National Committee (DNC) will hold elections to choose its next chair as the party looks to rebuild and win back voting blocs lost in November’s election.
Ben Wikler and Ken Martin, who chair the Wisconsin and Minnesota DNC chapters, are seen as the front-runners.
Back in Washington, local and federal officials continue to investigate what caused an American Airlines regional jet and Black Hawk military helicopter to collide on Wednesday, killing all on board.
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