Donald Trump wants everyone to know, he's going to make good on his tariff threats on day one.
The president-elect took to his Truth Social platform to single out three particular countries — China, Mexico, and Canada — as places whose goods will be sharply taxed when Americans go to buy them in stores.
"I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail," wrote Trump. "Representatives of China told me that they would institute their maximum penalty, that of death, for any drug dealers caught doing this but, unfortunately, they never followed through, and drugs are pouring into our Country, mostly through Mexico, at levels never seen before. Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America. Thank you for your attention to this matter."
He put up another post expanding the threats.
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"As everyone is aware, thousands of people are pouring through Mexico and Canada, bringing Crime and Drugs at levels never seen before," wrote Trump. "Right now a Caravan coming from Mexico, composed of thousands of people, seems to be unstoppable in its quest to come through our currently Open Border. On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders. This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!"
"Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem," he continued. "We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!"
Economists have warned that large-scale, across-the-board tariffs of the type Trump is proposing would lead to massive price increases and general market chaos, which could be a shock to millions of people who only recently saw inflation return to normal levels after years of price instability following the COVID-19 pandemic.
Trump, however, has misrepresented how tariffs work, repeatedly — and falsely — insisting that U.S. consumers will not pay his tariffs, only the countries whose goods are being targeted.