Industry leaders are reacting to President Trump's new tariffs on Canada, Mexico, and China, which were imposed to combat the flow of illegal fentanyl into the U.S. With levies of 25% and 10% respectively, these tariffs have prompted immediate threats of retaliation from the affected nations. Business executives express concern over the potential fallout from escalating trade tensions, fearing harm to the American economy. Notable figures, such as billionaire Mark Cuban, highlight the financial impact of these tariffs, urging the president to reconsider his strategy amidst fears of a global trade war.
In a post on Bluesky, Cuban warned that the new levies would cost people money and hurt businesses. "I apologize to all the people it will cost money and the businesses it will hurt. But it's the only way for tariffs to be seen for what they are."
The drug is often produced in China and smuggled over US borders. Trump is taking bold action to hold Mexico, Canada, and China accountable to their promises of halting illegal immigration and stopping poisonous fentanyl.
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