Observing that the US is giving its neighbors Canada and Mexico 100 billion US dollars and 300 billion US dollars respectively, US President Donald Trump said on Sunday that if this is the case, these two countries will be part of the US.
The 78-year-old Trump has threatened to impose huge taxes on both Canada and Mexico if they do not stop illegal immigrants entering the US from their territories.
“We’re giving Canada more than $100 billion a year in subsidies. We are subsidizing Mexico to the tune of about USD 300 billion. We should not give subsidies. Why are we subsidizing these countries? If we’re going to subsidize them, let them be (US) states,” Trump said in an interview with NBC News on his Sunday talk show after winning the Nov. 5 presidential election.
“We’re subsidizing Mexico, we’re subsidizing Canada, and we’re subsidizing many countries around the world. I just want a level, fast, but fair playing field,” he stressed.
Trump rejected comments by some U.S. CEOs that the tariffs would cost the U.S. and raise prices for common goods, stressing the general public.
“They cost the Americans nothing. They created a great economy for us. They also solve another problem. If we had a problem to do with wars and other things, with tariffs, I stopped the wars with tariffs by saying, ‘You want to fight, that’s fine.'” , but you are both going to pay a fee. In the United States, they have many purposes, if used correctly. I do not say that you use them like crazy I say it was used correctly,’ he said.
“But it didn’t cost the country anything. It made the country money. We didn’t really get a chance to go all out because we had to fight Covid in the last part. We did it very successfully. When I turned it over to Biden, the stock market was higher than it had been before COVID came. It was high. Tariffs, if used correctly, are a very powerful tool, not only economically, but also to achieve other things outside of economics,” he said.
“Are you going to implement these tariffs, or are they a negotiating tactic?” Trump was asked.
“Well, let me give you an example. With Canada and especially with Mexico, we have millions of people pouring into our country. I talked to both (leaders). I talked to Justin Trudeau. Within about 15 seconds of the call-in, he killed— A-Lago flew in. It was at Mar-a-Lago. We were having dinner, talking about it,” Trump said.
“I told the president of Mexico and Justin Trudeau, if this doesn’t stop, I’m going to put a 25 percent tax on your country,” Trump asserted.