Trump not expected to carry through on Day 1 tariff threats

Trump rekindled his threat against the two major US trading partners hours after taking the oath of office accusing them of failing to stop illegal immigration and drug trafficking into the United States.

President Donald Trump reportedly threatened to undertake the retaliatory move of doubling tax rates for foreign nationals and companies.

Washington: President Donald Trump has announced 25% tariffs on all goods coming in to the US from Canada and Mexico from February 1, even as he has issued a wide ranging executive order asking his government agencies to evaluate trade relationships, deficits, tariffs and possibilities of trade agreements by April.

The order did not immediately institute any new tariffs, as Trump had promised during his campaign to do on Day One, Instead, it directed incoming Cabinet officials to initiate a number of reviews and prepare a series of policy recommendations, while postponing decisions that could lead to new tariffs until April 1 at the earliest.