**Trump Tariffs On Canada, Mexico To Go Live Tomorrow, But They May Not Be 25%** says commerce secretary
US tariffs on Canada and Mexico are set to take effect on Tuesday, March 4, as initially planned. However, President Donald Trump will decide whether to maintain the originally proposed 25% tariff rate, according to US Commerce Secretary Howard Lutnick, who made the announcement on Sunday.
"There will be tariffs on Mexico and Canada starting Tuesday. The specifics of those tariffs will be determined by the president and his team through ongoing negotiations," Lutnick stated during an appearance on the Fox News program *Sunday Morning Futures*.
He described the situation as "fluid," indicating that the final decision on tariff levels remains uncertain. The 30-day suspension of tariffs for Canada and Mexico, which President Trump linked to efforts to curb illegal border crossings and the flow of fentanyl into the US, is scheduled to end on March 4.
Lutnick acknowledged that Canada and Mexico have made "reasonable progress" in securing their borders with the United States. However, he emphasized that the deadly drug fentanyl continues to enter the country, posing a significant challenge. He also noted that President Trump is prepared to increase tariffs on China unless the country takes decisive action to halt the trafficking of fentanyl into the US.
The commerce secretary's comments marked the first indication from the Trump administration that it might not impose the full 25% tariffs on all goods from Mexico and non-energy imports from Canada. This uncertainty follows President Trump's recent remarks, which caused confusion last week when he referenced a potential April 2 deadline for tariffs on Canada and Mexico. However, he later reaffirmed the March 4 deadline and announced an additional 10% tariff on Chinese goods, effectively doubling the duties imposed on February 4.
When questioned about whether he would extend the tariff pause, given a reported "90% drop in border crossings" since the initial threat, President Trump responded firmly, "I'm not stopping the tariffs, no. Millions of people have died because of the fentanyl that comes over the border... Yeah, they've been good, but that's also due to us. Mostly due to us."
The administration's approach reflects its broader strategy of leveraging tariffs as a tool to address both trade imbalances and domestic concerns, such as drug trafficking and border security. As the March 4 deadline approaches, stakeholders in Canada, Mexico, and the US await further clarity on the final tariff levels and their potential economic impact.
The situation underscores the complexity of balancing trade policy with other national priorities, as well as the challenges of negotiating with key trading partners. With the deadline looming, all eyes remain on President Trump and his team as they finalize their decisions on tariffs and their implications for North American trade relations.
Comments
Post a Comment