Trump’s Trade Plan: 25% Tariffs On Canada, Mexico Take Effect On Saturday- wna24

Washington DC: US President Donald Trump announced on Thursday that he is set to impose tariffs on Canada and Mexico, saying that his 25 per cent tariffs on Canada and Mexico are coming on Saturday. Trump, however, stated that he’s still considering whether to include oil from those countries as part of his import taxes. Reports suggested that the US President’s decision, which may be made as early as tonight, will depend on whether he believes the price of oil charged by the two countries is fair.

“We may or may not,” Trump told reporters in the Oval Office, referring to the possibility of tariffs on oil imports.

US President Trump stated, “We’re going to make that determination probably tonight.”

The threatened tariffs are part of Trump’s efforts to stop illegal immigration and the smuggling of chemicals used for fentanyl. However, the move has raised concerns about potential negative impacts on the US economy.

Despite these concerns, Trump expressed confidence that the tariffs would not harm the US economy. “We don’t need the products that they have,” he said. “We have all the oil you need. We have all the trees you need, meaning the lumber,” Trump added.

The US imports major amounts of oil from Canada and Mexico, with nearly 4.6 million barrels coming from Canada daily in October, and 563,000 barrels from Mexico.

Trump also announced plans to impose tariffs on China for exporting chemicals used to make fentanyl. “China would pay tariffs for their exporting of those chemicals,” he said.