
Trump confirms 25% tariffs are coming on Saturday for Canada and Mexico
By Isaac Lamoureux, True North Wire
American President Donald Trump has confirmed he will impose a 25% tariff on all imports from Canada and Mexico on Saturday, citing concerns over border security, drug smuggling, and trade deficits.
Trump made the announcement on Thursday. While he said oil “has nothing to do with it,” it’s unclear whether that means oil will be exempt or whether it means it does not hold sway over the incoming tariffs.
He outlined three key reasons for the inbound tariffs.
“Number one is the people that have poured into our country so horribly and so much; Number two are the drugs, fentanyl, and everything else that have come into the country; and, number three are the massive subsidies that we’re giving to Canada and to Mexico in the form of deficits,” said Trump.
Trump confirmed that the tariffs will be 25% on Canada and also 25% on Mexico, though they are separate tariffs. And he warned that the tariffs could rise with time.