Donald Trump fired his first broadside: the president-elect announced his desire to impose customs duties of 25% on all products from Mexico and Canada and 10% on imports on the day he takes office. Chinese. On the foreign exchange market, the dollar gained 1.32% to 20.547 Mexican pesos. The statements come as news of Scott Bessent’s nomination as Treasury secretary led investors to believe the next administration’s approach to tariffs could be more balanced than expected.
According to MUFG, President-elect Trump doesn’t seem to have appreciated this.
Late last night, he made it clear that the appointment of Scott Bessent did not mean much about the approach to be taken by the new administration.
“These tariffs will remain in effect until drugs, especially Fentanyl, and all illegal aliens stop invading our country!” said Donald Trump on Truth Social.
“Because Mexico and Canada were part of the USMCA trade deal reached toward the end of Mr. Trump’s first term, some believed they could have been dealt with less aggressively before negotiations at the review stage. agreement in July 2026”, underlines MUFG.
source: AOF
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Belgium
