Update:
President Donald Trump will impose 25% tariffs on imports from Canada and Mexico on Saturday, following through on a controversial move he says is aimed at pressuring the two neighboring countries to halt the flow of migrants and fentanyl across their borders.
Trump will also impose an additional 10% tariff on goods from China, White House press secretary Karoline Leavitt confirmed at a Friday press briefing. She said the new tariffs on imports from all three nations will go into effect Saturday
Original Story
President Donald Trump said his 25% tariffs on Canada and Mexico are coming on Saturday. He might tax their oil.
Trump said his decision would be based on whether the price of oil charged by the two trading partners is fair, although the basis of his threatened tariffs pertains to stopping illegal immigration and the smuggling of chemicals used for fentanyl.
“As far as I know, they are acting swiftly, and if they execute it, there will be no tariff,” Howard Lutnick said on Wednesday during a confirmation hearing before senators.
Lutnick, the billionaire chief executive of financial firm Cantor Fitzgerald, said other levies on Canada are to be decided by the end of March or in April, once a review of US trade relationships commissioned by Trump is complete.
He also said he preferred to assess tariffs “country-by-country” rather than by product.
“We are treated horribly by the global trade environment; everybody has higher tariffs, non-tariff trade barriers, and subsidies,” he said.
“We can use tariffs to create reciprocity, fairness, and respect.”
In December, Canada promised to implement a $1.3bn ($900m; £700m) set of new security measures along the country’s US border.
Weeks after his election victory last November, Trump announced on his own social network that upon his return to office, he would “sign all necessary documents” to impose a 25% tariff on Mexico and Canada. Mexico must stop “illegal aliens” from crossing its border with the US, he said, and Canada must halt the flow of drugs like fentanyl. “Until such time that they do, it is time for them to pay a very big price!”
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Thank you, President Trump!
A few things….. —– The USA’s GDP is at least 11 times larger than that of Canada, there is no way Trudeau and his liberals can win this fight, they are woke leftists and thus are complete imbeciles. —–Even before this 25% tariff was ever mentioned, surveys were showing that about two thirds of Canadians are fed up with Trudeau… Read more »
This is an emergency. This is what a real leader does. The markets reacted positively to the tariff threats, just as they did in 2017. Go figure.
The media babblers will be out again, attacking Trump’s tariffs, like they did in 2017. Neil Cavuto whined daily about it.
So, does that mean we will pay 25% more for Canadian oil. If so, then maybe we need refineries that can handle Alaska’s high sulfur content oil instead of selling it off to Japan or S-Korea. As for Mexico it could be a 100% tariff for all I care, as Mexico is not our friend and if it does not… Read more »
Remember the stick works better when there is a carrot!
The horror of the Biden regime’s four years of hell unfolds like the opening of Dachau – death and looting in every detail, and the neighbors found it made them money. Suddenly the Canadian elite realize this Trump nut could get them thrown out in the street by their own people. Mexico’s communist leader will fold like a cheap suit… Read more »
A border war is already underway, they attack us and we do nothing. That’s over now for 4 years. The nuts are the ones that support the invasion and smuggling.
If we all stay on our elected officials, starting in our own back yard, we can have lots more than 4 years, which is what we need to even begin to fix this Marxist mess from the Deep State.
Trump doing exactly what we voted for him to do. America isn’t your punching bag, Policeman, or your sugar daddy anymore
Whatever it takes to fix, make it happen.