In an early sign of an intensified focus on trade, President Donald Trump said Monday that tariffs could be levied against Mexico and Canada as soon as early February.
“We’re thinking in terms of 25% (levies) on Mexico and Canada, because they’re allowing a vast number of people” over the border, Trump said. The president called Canada “a very bad abuser” and said a target date for the tariffs would be “I think Feb. 1”
The remarks were made to members of the press as the newly minted chief executive offered a slew of executive orders aimed at everything from regulations to free speech to immigration.
While it’s been no secret that Trump plans on implementing across-the-board duties on U.S. trading partners, the timing and extent has been in question. There had been some speculation that the tariffs could be delayed and might be targeted at certain essential items rather than being more broad-based.
In his remarks, Trump provided no further details on how and when the tariffs could come. His trade order to not impose new tariffs.
Trump reportedly has been considering a 25% tariff on Canadian goods, part of plans to impose 10% duties on all countries that could escalate over time. Such a move against Canada would hit its economy hard considering the two nations do in excess of half a trillion dollars a year in trade.