White House says Trump tariffs on Canada, Mexico and China will come Saturday. No word on exemptions
Canada and Mexico say they’ve prepared the option of retaliatory tariffs to be used if necessary now that the White House says the U.S. will put in place 25% tariffs on imports from them this weekend
WASHINGTON — President Donald Trump will put in place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective on Saturday, the White House said, but it provided no word on whether there would be any exemptions to the measures that could result in swift price increases to U.S. consumers.
Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl, but he has also pledged to use tariffs to boost domestic manufacturing and raise revenues for the federal government.
“Starting tomorrow, those tariffs will be in place,” White House press secretary Karoline Leavitt told reporters. “These are promises made and promises kept by the president.”
The tariffs carry both political and economic risks for Trump, who is just two weeks into his second term. Many voters backed the Republican on the promise that he could tamp down inflation, but the possibility of tariffs could trigger higher prices and potentially disrupt the energy, auto, lumber and agricultural sectors.
Trump had said he was weighing issuing an exemption for Canadian and Mexican oil imports, but Leavitt said she had no information to share on the president's decision on any potential carveouts.
The United States imported almost 4.6 million barrels of oil daily from Canada in October and 563,000 barrels from Mexico, according to the Energy Information Administration. U.S. daily production during that month averaged nearly 13.5
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