Former Senate Republican Leader Mitch McConnell (R-Ky.) warned that President Trump’s 25% tariffs on Canada and Mexico would raise consumer costs and strain relations with allies. In an interview with CBS’s 60 Minutes, McConnell asked, “Why would you want to get into a fight with your allies over this?”
Kentucky-made products like Jif peanut butter and bourbon face retaliatory tariffs. Trump also announced a 10% tariff on Chinese imports. The U.S. imports over $1 trillion in goods from Canada, Mexico, and China combined.
McConnell, who opposed tariffs before the election, reiterated, “I’m not a tariff fan. They raise prices for American consumers.”
Following Trump’s announcement, stock market futures fell 1.5% Monday morning.
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