WASHINGTON – President Trump confirmed to reporters Thursday night that he will impose blanket 25% tariffs on Mexico and Canada on Feb. 1.
The move would follow through on the threat he made on the two countries right after taking office.
He gave some reasoning to reporters outside the Oval Office last night:
“Number one is the people that have poured into our country so horribly and so much,” he said, CNBC reported. “Number two is 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 Mexico in the form of deficits.”
Earlier this week, Mexican president Claudia Sheinbaum said she doesn’t think tariffs on the nation will end up happening, Reuters reported. Reuters also reported that if Trump were to impose tariffs, Mexico may retaliate with their own tariffs.
Tariffs on the two nations may exclude oil, according to reports.
Despite threatening tariffs on China many times during his campaign, Trump didn’t mention the country in his recent threat. Last week, he also told reporters that universal tariffs may end up being implemented, but that “we’re not ready for that yet.”
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Credit: homeaccentstoday.com
