White House Reaffirms Trump's Will... "Tariffs on Canada, Mexico, and China from the 1st"
- President Trump announced that starting February 1st, a 25% tariff will be imposed on Canada and Mexico, and a 10% tariff on China.
- The White House spokesperson explained that this is a retaliatory measure against Canada, Mexico, and China for supplying illegal fentanyl and allowing its distribution in the U.S.
- It was reported that major indices on the New York Stock Exchange showed a downward trend after the tariff announcement, reflecting investors' concerns.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
White House Spokesperson Caroline Levitt announced in a briefing on the 31st (local time)
"25% on Canada and Mexico... 10% on China"
"Retaliatory measure for supplying illegal fentanyl and allowing its distribution in the U.S."
The White House reaffirmed on the 31st (local time) that U.S. President Donald Trump will enforce tariffs on Canada, Mexico, and China starting February 1st.
White House Spokesperson Caroline Levitt stated in a briefing that "President Trump confirms that tomorrow (February 1st) he will begin imposing a 25% tariff on Mexico and Canada, and a 10% tariff on China." She also explained that this is a "retaliatory measure for these countries supplying illegal fentanyl and allowing its distribution within the United States." Spokesperson Levitt emphasized that "the President is fulfilling his promises."
There was no mention of tariff exemption clauses at this briefing. The White House denied reports by Reuters about some exemption clauses and the postponement of tariff implementation until March 1st. Currently, the U.S. trades approximately $1.6 trillion annually with Canada, Mexico, and China. President Trump is expected to use these tariffs as a bargaining chip. There is also an interpretation that he intends to use it as a means to induce changes in foreign policy, particularly regarding immigration and drugs.
Trump's trade advisor Peter Navarro explained in an interview with CNBC, "The Super Bowl is about to take place, and the number of people who can enter the New Orleans Superdome is almost the same as the number of people who die from fentanyl in the U.S. each year. And that fentanyl comes from China and Mexico. This is why we are having these (tariff) discussions."
On this day, the Dow Jones Industrial Average on the New York Stock Exchange closed at 44,544.66, down 337.47 points (-0.75%) from the previous session. The S&P 500 index fell 30.64 points (-0.50%) to 6,040.53, and the tech-heavy Nasdaq index closed at 19,627.44, down 54.31 points (-0.28%) from the previous session.
New York = Correspondent Park Shin-young nyusos@hankyung.com

Korea Economic Daily

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