Come Feb. 1, U.S. trading partners are expected to see higher tariffs. The Trump administration wants to impose 25% tariffs on goods from Mexico and Canada and 10% on Chinese imports.
Trump said the tariffs will help solve the U.S.’s deficit with Canada, and slow illegal immigration into the U.S. from Mexico. He also believes tariffs will put an end to what he calls China’s unfair trade practices — and some Wisconsin business leaders agree.
“Many of our members were frustrated with some of the unfair trade practices they saw coming from China, whether it’s currency manipulation, tech transfers, the theft of IP. So they’re frustrated and they wanted somebody to stand up to China,” Wisconsin Manufacturers & Commerce President and CEO Kurt Bauer said.
“Many of them manufacture in China, but you need fair trade in order to do that, and if they’re not going to play by the rules, the United States has no other recourse but to impose tariffs,” Bauer said.
