Trump to impose 25% tariff on Canada and Mexico – | Political News
The Trump administration will begin imposing 25% tariffs on Canada and Mexico on Saturday, Feb. 1, White House Press Secretary Karoline Leavitt confirmed.
However, China will solely be subject to a 10% tariff for its position in trafficking fentanyl, a lethal drug that has killed scores of Americans, dispelling a report that claimed the tariffs would go into impact in March.
Similarly, Trump has stated he’s placing financial strain on Mexico and Canada to curb the circulation of unlawful immigration and opioids into the United States.
“These are promises made and promises kept by the president,” Leavitt stated at a press convention on Friday.
Leavitt didn’t reply when requested if the administration would reverse the tariffs if costs of imported items went up.
Earlier within the day, Canadian Prime Minister Justin Trudeau stated he “won’t relent until tariffs are removed,” declaring that Canada “won’t back down.”
Responding to Trudeau’s remarks, Leavitt stated, “[Trudeau] would be wise to talk to President Trump directly before pushing outlandish comments like that.”
Prime Minister Trudeau introduced that he can be resigning earlier within the month amid growing turmoil in his authorities over financial coverage, together with Canada’s response to Trump’s tariffs. His celebration can be suspended on March 24.
Editor-in-Chief of MeidasTouch Ron Filipkowski opined on X, “The Trump Trade War begins. I see Elon Musk negotiated China’s tariffs down. Already coming through for his largest business partner.”
He additionally famous a dramatic drop within the Dow Jones after the tariff announcement was made.
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