Industry and corporate leaders are weighing in after U.S. President Donald Trump followed through with his threat to impose tariffs on Canada, Mexico and China.
On Saturday, the Trump administration’s senior trade and manufacturing adviser Peter Navarro confirmed the president will follow through on 25% tariffs on imports from Mexico and Canada, as well as a 10% duty on China. Energy resources from Canada will have a lower 10% tariff.
A range of industries, from homebuilders to alcohol producers, detailed the impact tariffs would have on their businesses and consumers. Other company leaders voiced their concerns about the threat of tariffs ahead of Saturday’s order. Here are some of their statements.
John Murphy, U.S. Chamber of Commerce senior vice president, head of international
“The President is right to focus on major problems like our broken border and the scourge of fentanyl, but the imposition of tariffs under IEEPA is unprecedented, won’t solve these problems, and will only raise …