Trump announces an additional 10% tariff on Chinese goods

ChainCatcher news, on the 25th local time, U.S. President-elect Trump stated that a 25% tariff will be imposed on all products entering the U.S. from Mexico and Canada. In addition, Trump announced an additional 10% tariff on Chinese goods.

In an interview last year, Trump proposed a 10% universal tariff on all imported goods. In November this year, a study by the National Retail Federation (NRF) indicated that if Trump's new tariff plan is implemented, American consumers could lose up to $78 billion in annual purchasing power. The study shows that these tariffs will affect consumer goods categories such as clothing, toys, furniture, appliances, footwear, and travel goods.