Us -Zölle in Mexico, Canada, begins on Tuesday, says Trump

The United States will start on Tuesday to raise 25% import taxes for all goods that enter the country from Canada and Mexico, President Donald Trump told reporters on Monday. The Trump government threatened to force tariffs last month if both countries do not take major measures to stop illegal migration and drug trafficking across their limits.

The president previously delayed the enforcement of the tariffs when both countries promised to take measures to stop fentanyl and illegal migrants to the United States. Trump also seemed to use the tariffs as a motivator or impulse for larger economic investments in the United States. If companies build manufacturing systems here, tariffs will not be a problem, he said reporters.

What other economic updates were given? Trump described the press conference to highlight a plan by the Taiwan Semiconductor Manufacturing in order to invest another $ 100 billion in more production facilities based in the USA. The semiconductor production will bring tens of thousands of highly paid jobs to the United States and American dominance consolidate in artificial intelligence, said Trump.

In combination with an earlier commitment, the Taiwan hauler is now planning to invest a total of 165 billion US dollars in the goal of operating from Phoenix, according to a press release from the company. According to the publication, the company is planning three production sites, two packaging systems and an administrative center. The investment of Taiwan Semiconductor is the greatest direct individual instance of foreign investments in the history of US history, added to the company.

Grab deeper: Read the report by Todd Vician in World Magazine to get more insights into the functioning of tariffs and its effects on the US economy.