Trump affirms intentions to hit bordering nations with 25 percent tariffs

(MENAFN) US President Donald Trump has confirmed plans to impose 25% tariffs on imports from Canada and Mexico, effective February 1. While the issue of taxing oil imports remains undecided, Trump emphasized that this tariff move is part of his broader strategy to address illegal immigration, drug trafficking, and trade deficits with the neighboring countries.

In a Thursday briefing, Trump stated that the tariffs would be applied separately to imports from Canada and Mexico and could increase over time. He also mentioned that the decision to impose tariffs on oil imports would depend on pricing and whether the countries "treat us properly."

Canada's Foreign Minister Melanie Joly expressed hope that diplomatic efforts could prevent the tariffs but warned that retaliation might follow if the tariffs are imposed. Mexico’s Economy Minister, Marcelo Ebrard, also warned that the tariffs could severely impact US automakers, particularly companies like General Motors and Ford, which manufacture a significant portion of pickup trucks sold in the US.

Trump also indicated that new tariffs could be introduced on Chinese goods due to their involvement in fentanyl production, continuing his trade stance from previous years.

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