OAN Staff James Meyers
11:53 AM – Friday, January 31, 2025
President Donald Trump announced on Thursday that he plans to follow through in imposing 25% tariffs on goods imported from Mexico and Canada — starting this Saturday, February 1st.
Advertisement
“We’ll be announcing the tariffs on Canada and Mexico for a number of reasons,” Trump told reporters in the Oval Office. He noted the mass movement of migrants at the southern border, the increase in fentanyl into the U.S. and the trade deficit the U.S. has with its neighboring countries.
“I’ll be putting the tariff of 25% on Canada and Mexico, and we will really have to do that because we have very big deficits with those countries,” he said. “Those tariffs may or may not rise with time.”
Trump continued, explaining that the decision on whether oil imports would be included in the policy is dependent on if the two countries “treat us properly.” However, his final decision in regards to the oil has yet to be announced or confirmed.
“We may or may not. We’re going to make that determination, probably tonight, on oil. Because they send us oil, we’ll see. It depends on what the price is. If the oil is properly priced, if they treat us properly, which they don’t,” Trump said.
“Look, Mexico and Canada have never been good to us on trade,” he continued. “They’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have.”
The action comes after Trump first made his threat in the final days of the 2024 campaign, after he threatened to impose tariffs on all imports from Mexico, unless the Mexican government helped cut down the flow of illegal aliens and fentanyl coming through the southern border.
Later on, he expanded the threat to include both Canada and China.
Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts
Advertisements below