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12:30 Report — Trump’s tariff threat
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The latest in politics and policy. Direct to your inbox. Sign up for the 12:30 Report newsletter Subscribe *{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img div{display:none}sub,sup{font-size:75%;line-height:0} @media (max-width:620px){.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}} {beacon} @media (prefers-color-scheme: dark) { #thehillheader { background-color: #2a53c1 !important; color: white !important; } }12:30 REPORT
It’s Tuesday of Thanksgiving week. Things are starting to quiet down in Washington. Here’s what’s happening:
- Trump says he will impose new tariffs on the goods from China, Mexico and Canada.
- Will he follow through or are the tariff threats a bluff?
- Trump’s expanding business ties come under ethics spotlight.
- The Bidens leave for Nantucket; Harris returns to D.C.
I’m Cate Martel with a quick recap of the morning and what’s coming up. Send tips, commentary, feedback and cookie recipes to cmartel@thehill.com. Did someone forward this newsletter to you? Sign up here.
💸 Trump’s Incoming Administration
This is either a big bluff or an even bigger deal:
President-elect Trump said Monday that he would impose massive tariffs on the U.S.’s three biggest trading partners: Canada, Mexico and China.
The proposed tariffs: A 25 percent tariff on all Canadian and Mexican goods; an additional 10 percent tariff on all Chinese goods on top of the existing tariffs from his first administration.
What Trump wants to accomplish: Trump wants all three countries to bolster security and stop the flow of fentanyl exports to the U.S. He has signaled support for China imposing the death penalty for people dealing fentanyl.
The big question: Is Trump bluffing? He’s threatened massive tariffs, including more than 200 percent tariffs on Mexican cars, while on the campaign trail. If he goes through with it, these tariffs would raise the price of goods and could damage the U.S. economy. After all, Mexico, Canada and China account for roughly 42 percent of all imports to the U.S. this year, according to The Wall Street Journal.
➤ RELATED READS:
- The Wall Street........
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