Learn about the proposed tariff measures by the upcoming US administration on imports

The elected president, Donald Trump, has outlined a series of tariff measures and incentives aimed at strengthening the U.S. economy and protecting domestic industries. These policies aim to reduce reliance on foreign products and encourage domestic production.

Tariffs on Imports

Trump has announced the implementation of significant tariffs on products from Mexico, Canada, and China. Starting on January 20, 2025, the day of his inauguration, a 25% tariff will be imposed on all imports from Mexico and Canada, with an additional 10% tariff on Chinese products. These measures are justified by concerns related to illegal immigration and drug trafficking, particularly fentanyl.

Additionally, Trump has proposed a 60% tariff on all Chinese imports and up to 200% on vehicles made in Mexico. These policies reflect his commitment to renegotiating trade deals and protecting American jobs.

Incentives for Domestic Production

To stimulate production within the U.S., the incoming administration plans to offer tax and regulatory incentives to companies that manufacture domestically. Although specific details have yet to be disclosed, these measures are expected to include corporate tax cuts and the removal of regulations that Trump claims hinder job creation.

The appointment of Scott Bessent as Secretary of the Treasury signals a shift toward the implementation of these economic policies. Bessent, an investor and geopolitical strategist, will play a key role in executing the tax cuts and protectionist tariff policies promised by Trump.

International Reactions

Trump's proposed tariffs have generated responses from international leaders. Canadian Prime Minister Justin Trudeau has pledged to implement stricter border controls to avoid the imposition of tariffs on Canadian imports.

Meanwhile, the Kremlin has warned that Trump’s threats could backfire, accelerating the trend of countries moving away from the U.S. dollar.

In summary, the tariff policies and incentives proposed by President-elect Donald Trump aim to revitalize the U.S. industry and reduce dependency on foreign goods. However, these measures have also raised concerns about potential trade wars and their implications for the global economy.

Sources: Reuters, El País, Wired