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Trump threatens trade war on Mexico, Canada, China

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Trump made his threat in social media posts, announcing huge import tariffs against neighbours Canada and Mexico, and also rival China if they don’t stop illegal immigration and drug smuggling into the US.

China responded that “no one will win a trade war,” while Mexican President Claudia Sheinbaum warned that “for every tariff, there will be a response in kind.”

A Canadian government source said Prime Minister Justin Trudeau called Trump and had a “productive” discussion, without giving further detail.

Such tariffs threaten to disrupt the global economy, deepen already fierce tensions with China, and upend relations with the US’s two largest neighbours.

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Nervous stock markets saw “volatile trading conditions” as they digested the news, said an analyst at City Index, Fawad Razaqzada.

On his Truth Social platform, Trump said late Monday that he would enact the tariffs when he takes office on January 20, 2025, if his — vaguely worded — demands were not met.

The posts signal Trump’s intention to return to the governing style of his first presidency when he regularly shocked Washington and US partners with abrupt, major policy shifts which he announced on social media.

They also confirmed that Trump is serious about his major campaign promise to use the US economic muscle as leverage on issues having little to do with trade — namely his claim that the US is under siege by foreign crime and dangerous migrants.

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On Tuesday, Trump named two important figures to his economic team: Jamieson Greer as his trade representative and Kevin Hassett as his top economic advisor, heading the White House National Economic Council.

Both had roles in his first administration, with Greer serving as the Chief of Staff to former US Trade Representative Robert Lighthizer.

“I will sign all necessary documents to charge Mexico and Canada a 25 per cent tariff on all products coming into the United States,” Trump earlier posted.

“This tariff will remain in effect until such time as drugs, in particular Fentanyl and all illegal aliens stop this invasion of our country!” he said.

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In another post, Trump said he would be slapping China with a 10 per cent tariff, “above any additional tariffs,” because the world’s second-biggest economy was failing to execute fentanyl smugglers.

The spokesman for China’s embassy in the US, Liu Pengyu, told AFP, “China believes that China-US economic and trade cooperation is mutually beneficial in nature.”

Mexico’s Sheinbaum fired back at Trump, saying his tariffs diplomacy was “not acceptable” and based on erroneous claims.

“It is not with threats or tariffs that the migration phenomenon will be stopped, nor the consumption of drugs in the United States,” she said.

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Sheinbaum pointed out that the Mexican narcotics industry largely exists to serve demand in the US.

“Seventy per cent of the illegal weapons seized from criminals in Mexico come from your country.

“Tragically, it is in our country that lives are lost to the violence resulting from meeting the drug demand in yours,” she said.

– Bluster or serious? –

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A senior adviser at the Centre for Strategic and International Studies, William Reinsch, said Trump’s online threats may be bluster — a strategy of “threaten and then negotiate.”

However, Trump’s first White House term was marked by an aggressive and protectionist trade agenda that also targeted China, Mexico and Canada, alongside Europe.

While in office, Trump launched an all-out trade war with China, imposing significant tariffs on hundreds of billions of dollars of Chinese goods.

China responded with retaliatory tariffs on American products, particularly affecting US farmers.

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Economists say tariffs can hurt US growth and fuel inflation since they are paid by importers who often pass those costs on to consumers.

Trump has said he would put his Commerce Secretary-designate Howard Lutnick, a China hawk, in charge of trade policy.

AFP

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ALERT! Terrorists planning attacks on worship centres, schools, NYSC camps – Police issue alert

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The Nigerian Police Force High Command has placed formations nationwide on red alert over alleged planned terror attacks on worship centres, schools, National Youth Service Corps, NYSC, orientation camps and other public places across the country.

According to Premium Times, the police also revealed that intelligence had shown the movement of armed elements from Katsina through Kaduna towards Plateau State.

The development followed fresh intelligence indicating increased mobilisation of terrorist elements for possible coordinated attacks on places of worship, learning institutions, NYSC orientation camps and other vulnerable targets across the country.

The findings showed that following the intelligence report, the high command has issued an operational order to its formations nationwide on the need to put the criminal elements in check before they will strike.

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Gov. Soludo reveals Obi, Obiano accumulated debts still hanging on Anambra

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The Anambra State Government has said it is still servicing loans inherited from the administrations of former governors Peter Obi and Willie Obiano, even as it maintains that Governor Chukwuma Soludo has not borrowed from any commercial bank since assuming office.

The Commissioner for Finance, Izuchukwu Okafor, said the state’s debt burden had fallen by more than 83 per cent under Soludo, with the administration also clearing several inherited domestic obligations.

Okafor disclosed this during a Ndi Anambra podcast uploaded by Anambra State New Media on Monday while explaining the state’s finances and debt position.

He said repayments on loans secured by previous administrations continued to be deducted from Anambra’s allocation through the Federation Account Allocation Committee, including obligations dating back to the Obi and Obiano administrations.

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“Yes, every month during our FAC meetings, and when you see the schedule of FAC, you will notice there were substantial, significant deductions from our own FAC because of loans previously borrowed by previous administrations,” Okafor said.

“These loans were borrowed, you know, during the time of, even, not the immediate predecessor, even during the time of Peter Obi and Willie Obiano, His Excellency, the past governors,” he said.

According to the commissioner, the Soludo administration had focused on managing the inherited obligations while avoiding new commercial borrowing.

“It’s on record, you know, that this administration has not borrowed a kobo from any commercial bank since the inception of this administration,” he said.

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Okafor said the government had also settled a number of legacy liabilities, including unpaid contracts, gratuity and pension arrears, bringing the state’s domestic debt close to zero.

“But I will give you an example for our domestic debt, the control, the legacy, what we call legacy debts, you know, the contracts that were not paid, not owing, the gratuity arrears, pension arrears, we’ve been able to clear all that,” he said.

He added, “In terms of, so, our domestic debt as of today is near-zero balance.”

The commissioner attributed the reduction in the overall debt burden to repayments made by the administration, saying several inherited loans had already been settled.

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“But I will also say that Mr Governor has not borrowed a penny. We have been able to manage the debt, the state debt, very well, that we have brought it down by more than 83 per cent as of today. I’ve been able to repay back most of these loans,” he said.

External obligations, however, remain part of the state’s financial commitments. Okafor explained that repayments on some foreign-denominated loans are deducted from the state’s federal allocation under the terms attached to the facilities.

“But following as well, external debts, which is foreign loan-denominated debts, when you look at it, because there are some covenants around the period it will take to pay off these loans, particularly deducted as such when we are doing FAC,” he said.

“Before they limit Anambra’s own allocation, they will deduct it as such, because most of them, World Bank loans and other loans, they committed.”

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Okafor also disclosed that the state had recently fully repaid one of its debts.

“There is one debt that we recently paid off, CAGS,” he said.

He said the reduction in inherited liabilities had given the government more room to finance other priorities.

“So, in a nutshell, I’ve been able to, you know, create more fiscal space for Anambra State,” Okafor said.

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He added, “This administration has been able to create more by paying off, you know, backlog of numerous debts inherited from previous governments, starting from the time of Peter Obi.”

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Sad: Nine passengers killed as gunmen open fire on bus in Plateau

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No fewer than nine passengers were killed when gunmen opened fire on a commercial bus at Dungus Junction in Kuru community, Jos South Local Government Area of Plateau State.

Residents told journalists that the incident occurred when the bus driver parked to allow some passengers alight at the junction.

According to Daily Trust the bus which was heading to Jos was stained with blood and riddled with bullets.

Lawan Suleiman, a neighbor and teacher of one of the victims, confirmed the incident, adding that the attack occurred while the bus was stopped at the junction.

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He said, “The driver is Ibrahim and he was my student. Three of them are from our community here in Bukuru. Their bodies have been deposited at the hospital. But relatives are preparing to collect them for burial.”

Spokesman of the Berom Youth Moulders, BYM, Rwang Tengwong, also confirmed the incident saying the victims were passengers travelling to Jos when the attackers opened fire on their vehicle.

“The incident happened around 9.40p.m. The victims were all passengers travelling to Jos when the terrorists opened fire on the vehicle. Among those killed was a member of Operation Rainbow. It is a very sad development and we lament the loss of lives.”

According to him, some of the passengers sustained gunshot wounds and were rushed to hospitals, where some later died.

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Plateau state police command is yet to issue a statement regarding the incident as of press. (Daily Trust)

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