OREANDA-NEWS President Donald Trump has doubled the tariffs on Chinese goods, increasing them from 10% to 20%. The relevant announcement was published on the official website of the White House.

The President explained his decision to double the tariffs by stating that the Chinese government has failed to take measures to curb the flow of synthetic opioids, including fentanyl, into the United States. According to Trump, the supply of fentanyl poses a grave threat to national security.

The President also announced the imposition of duties on Canada and Mexico, effective from Tuesday, March 4. However, Canadian energy carriers will be exempt from the tariffs, which will be limited to 10%.

Previously, experts had predicted that Trump's policies would lead to an increase in prices for a wide range of goods. It is expected that the most significant impact of Trump's trade policies will be felt in the American automotive and electronics industries.