President Trump announced that 25% tariffs on Mexican and Canadian goods will take effect on March 4, citing ongoing drug issues. He will also implement a further 10% tariff on Chinese goods. Meanwhile, discussions continue between U.S. officials and counterparts in Mexico and Canada to address the tariffs. A study assessing tariff impacts will guide future decisions by April 1.
On Thursday, President Donald Trump reaffirmed that the scheduled 25% tariffs on goods from Mexico and Canada will go into effect on March 4. He cited a continuing influx of drugs, particularly fentanyl, from these countries as the driving reason behind the tariffs. Additionally, upon the same date, an extra 10% tariff will be imposed on Chinese imports, following a previous 10% tariff enacted on February 4.
Trump expressed urgency regarding the matter, stating that drug flows into the U.S. are at “very high and unacceptable levels,” which must be addressed to protect Americans. He detailed on Truth Social that the new tariffs would not be delayed unless the drug crisis is significantly curtailed.
The announcement resolved uncertainties from previous statements indicating a potential delay to April 4 for these tariffs. Trump hinted at reciprocal tariffs aligning with other nations’ trade policies, prompting further discussions among his trade advisers regarding tariffs on various countries, especially Mexico and Canada.
White House economic adviser Kevin Hassett noted that a study on tariff impact would be available by April 1, after which Trump would reassess the overall tariff strategy. Mexican Economy Minister Marcelo Ebrard is engaging with U.S. officials to prevent the tariffs.
In Canada, officials point to improved border security measures aimed at controlling drug smuggling as reasons to ease the tariffs. China, meanwhile, has pushed for dialogue and consultation regarding trade issues with the U.S. in response to these tariff proposals.
In summary, President Trump confirmed that tariffs on Mexican and Canadian goods will be implemented as scheduled due to ongoing drug issues, while also increasing tariffs on China. Administration officials are exploring tariff implications and potential adjustments based on results from an upcoming study. Efforts are ongoing from both Mexico and Canada to negotiate terms and avoid the tariffs, and China has indicated a preference for dialogue around these trade concerns.
Original Source: www.usnews.com
