Tramplariffer that will have effect: What to know

The White House confirmed on Friday that President Donald Trump Implements tariffs on Mexico, Canada and China this weekend.

Press Secretary Karoline Leavitt said Trump will impose a 25% tax on imports from Mexico and Canada and a 10% duty on imports from China beginning on Saturday, in response to the “illegal fentanyl that they have picked up and allowed to distribute To our country that has killed tens of thousands of millions of Americans.

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“These are promises given and promises held by the president,” she said.

The comments came just after he signed a executive order entitled “America First Trade Policy”, which instructed government officials to “examine the causes of our country’s large and sustained annual trade deficit in goods as well as the financial and national security consequences …,” Said the order.

President Donald Trump delivers his initial address after (CHIP ASODVILLA/POOL/AFP via Getty Images/Getty Images)

However, his recent actions against China are far lower than his original threats he put forward during his campaign. He promised a universal 10% to 20% duty on imports from all abroad along with an additional 60% to 100% duty specifically on imports from China.

Trump’s tariffs would increase consumer prices: National Retail Federation

Democrats and opponents, however, claim that the cost of customs would just be Transferred to US consumers. Over the past several months, several retailers have raised concerns about the prospect of tariffs that pump the cost of their products or even force them to cut back into stock.

Oracle -Basic Larry Ellison Listens to President Donald Trump Speaking in Roosevelt -The Room of the White House on January 21, 2025 in Washington, DC (Jim Watson / AFP via Getty Images / Getty Images)

For example Dollar wood – which has high exposure to China – warned that if customs are implemented, the company may change product information or sizes and even stop wearing items completely if they become too expensive.

A Walmart spokesman said in a statement to Fox Business that the company remains “concerned that significantly increased tariffs can lead to increased costs for our customers at a time when they still feel the remains of inflation.”

Meanwhile, Wall Street Titan Goldman Sachs also raised concern that hiking the charges on products will increase the cost of everyday Americans.

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David French, National Retail Federation’s Executive Vice President of Government Relations, said the United States “needs a review of our trade conditions to make sure these conditions are structured to achieve fair, balanced and effective results for US workers and businesses. ”

“Tariffs are taxes that Americans pay, and any new customs tax increases must be methodically and effectively deployed against only the most strategic goods,” French said. “To carry out a strategic assessment of trade priorities is an important first step.”

Fox News’ Greg Norman contributed to this report.