Trump threatens 25% tax on Mexican, Canadian goods


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President Trump announced a significant escalation in his trade policy, declaring that comprehensive 25 percent tariffs on Canadian and Mexican imports will take effect within two days. The president also indicated he’s contemplating including oil imports from both nations in this tariff package.

During an Oval Office press briefing, Trump addressed the possibility of imposing border taxes on Canadian and Mexican oil, stating “We may or may not. We’re going to make that determination probably tonight.”

The president explained that his decision would hinge on whether he considers the oil prices from these neighboring countries to be reasonable. However, he emphasized that his main priority remains addressing illegal immigration and preventing the cross-border trafficking of fentanyl precursor chemicals.

Dismissing concerns about potential negative economic consequences, Trump expressed confidence in American self-sufficiency. “We don’t need the products that they have,” Trump said. “We have all the oil you need. We have all the trees you need, meaning the lumber.”

The president also touched on his plans regarding China, suggesting additional tariffs were being considered, particularly in response to fentanyl-related issues. “With China, I’m also thinking about something because they’re sending fentanyl into our country, and because of that, they’re causing us hundreds of thousands of deaths,” Trump said. “So China is going to end up paying a tariff also for that, and we’re in the process of doing that.”

These potential new measures against China would build upon existing tariffs, with Trump having previously indicated a 10 percent additional tax on Chinese imports.