President Donald Trump on Monday confirmed that 25 percent tariffs on Canada and Mexico will take effect on Tuesday.
While taking questions at a press conference announcing a $100 billion investment that Taiwan Semiconductor Manufacturing Co. (TSMC) is making in the United States, Trump reiterated that the tariffs on America’s neighbors would be implemented on Tuesday.
“But very importantly, tomorrow, tariffs: 25 percent on Canada and 25 percent on Mexico,” he said.
Trump pitched car manufacturers in Canada and Mexico on moving to the United States to avoid paying tariffs:
And I would just say this to people in Canada or Mexico, if they’re going to build car plants, the people that are doing them are much better off building here because we have the market. We’re the market where they sell the most, and so I think it’s going to be very exciting, very exciting for the automobile companies.
Trump was initially set to impose the 25 percent tariffs on Canada and Mexico on February 4. Canadian energy products were a notable exception, as Trump hit those with a lighter ten percent tariff. He also put an additional ten percent tariff on China.
However, just hours before the tariffs and a reciprocal 25 percent tariff on the U.S. from Canada were set to take effect, Mexico and Canada agreed to ramp up security at their respective borders with the United States, and the three countries subsequently agreed to a four-week pause on the tariffs.
The tariffs on China, however, did go into effect.
Trump said there was “no room” when a reporter asked if Canada or Mexico could strike a deal before midnight.
“No room left for Mexico or for Canada. No, the tariffs, you know, they’re all set. They go into effect tomorrow,” he said.
He then pointed to the fentanyl crisis, which was the driving force behind these tariffs in the first place, and spoke to the additional ten percent tariff that he is imposing on China, which brings it to twenty percent.
“Just so you understand, vast amounts of fentanyl have poured into our country from Mexico, and as you know, also from China, where it goes to Mexico and goes to Canada,” he told reporters. “And China also had an additional ten. So it’s ten plus ten.”
Jesus Christ is King
