Trump Hints at Rising Tariffs Amidst Global Trade Tensions

President Donald Trump suggested future tariff increases on Mexico and Canada, emphasizing historical exploitation of the US by global partners. The modifications aim to safeguard American industries while maintaining USMCA commitments. Recent negotiations with Mexico's President contrasted with criticism of Canada as a 'high tariff nation'.

In a statement containing his characteristic bravado, US President Donald Trump hinted at potential future increases in tariffs against Mexico and Canada, according to a Sunday report by Fox News. Trump alleged that the United States has long been exploited by the global community. "I think [the business community could see clarity on tariffs]," Trump remarked, addressing corporate leaders' concerns about the need for predictable capital expenditure planning. However, as he noted, "the tariffs could go up as time goes by, and they may go up...," emphasizing that this adjustment is a reaction to perceived decades of economic 'ripping off' of America.

Trump's rhetoric did not shy away from accusatory tones, as he asserted that every nation has taken advantage of the US. "This country has been ripped off from every nation in the world, every company in the world. We've been ripped off at levels never seen before, and what we're going to do is get it back," he declared emphatically. This stance coincides with his approach to international trade negotiations and deals, such as the imposition of tariffs on Mexico, Canada, and China. These measures, according to Fox News, are consequent to issues like border control lapses leading to fentanyl inflows into the US.

Recently, Trump displayed a mix of diplomacy and criticism in handling these tariffs, having postponed some imposed on Mexico and Canada on March 7. While he praised discussions with Mexico President Claudia Sheinbaum, he did not spare Canada, labeling it a 'high tariff nation.' According to officials, these tariff adjustments aim to protect America's car manufacturers and farmers while maintaining commitments to the USMCA, a free trade deal Trump secured in his first term. The adjustments will exclude USMCA-eligible goods from current tariffs, CNN adds.

(With inputs from agencies.)