We're thinking in terms of 25 percent for Mexico and Canada, since they let large quantities of people – Canada is also abusing it – large quantities of people, and fentanyl, come in, says Trump from the Oval Office.
In November, Trump promised to introduce tariffs, as well as increase existing ones against China, from day one in the White House. The tariffs to be imposed on Chinese goods imported to the US would become much higher. Now Trump doesn't say much about China.
The other day, he spoke on the phone with China's President Xi Jinping. And there will be more contacts, according to what Trump said when he signed a presidential decision in the Oval Office in the White House in front of reporters.
We're going to have meetings and phone calls with Xi, says Trump.
One of many of Trump's decisions on his first day as president involves the finance and trade departments coming up with proposals on how a new authority, which will handle tariffs and fees on trade, can be established. They will submit proposals in April.
At the same time as Trump seems to be backing down from some of his earlier tariff threats, he tried, in his inauguration speech, to emphasize that tariffs will be paid by other countries and not by consumers, in the form of importers having to raise prices.
According to Trump, the tariffs will make the US and Americans "incredibly rich."
