President Trump officially announces 25% tariffs on both Mexico and Canada
(ZEROHEDGE) – President Donald Trump on Thursday announced he will decide tonight on whether to impose sweeping 25% tariffs on Canada and Mexico related to their failure to regulate the flow of fentanyl into the United States, and said his administration is in the process of formulating tariffs for China as well.
“We’ll be announcing the tariffs on Canada and Mexico for a number of reasons,” said Trump, adding “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. Number three are the massive subsidies that we’re giving to Canada and to Mexico in the form of deficits.”
Trump added that the tariff levels “may or may not rise with time,” Bloomberg reports. Trump reiterated the pledge while speaking with reporters Thursday in the Oval Office as he signed executive actions related to Wednesday’s deadly airplane collision.
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BREAKING: President Trump officially announces 25% tariffs on both Mexico and Canada.
— Benny Johnson (@bennyjohnson) January 30, 2025