Heading into his inauguration, Donald Trump plotted many new tariffs, including on Canada and Mexico. And while Trump put into place a large number of executive orders in the opening days of his second presidency, he did not launch the tariffs right away, instead declaring that they would arrive on or around February 1.
The idea was thought by many to indicate that Trump was seeking to negotiate with those countries ahead of the planned imposition of the tariffs.
The Donald Trump Tariff Battle Begins
But on Thursday, Trump announced that the 25 percent tariffs would arrive Saturday.
“We’ll be announcing the tariffs on Canada and Mexico for a number of reasons,” Trump told the press Thursday in an Oval Office meeting, as reported by The Hill.
“I’ll be putting the tariff of 25 percent on Canada and Mexico, and we will really have to do that because we have very big deficits with those countries,” Trump said in the meeting. “Those tariffs may or may not rise with time.”
“Look, Mexico and Canada have never been good to us on trade,” Trump added. “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.”
Oil or No Oil?
Trump did say, per the Financial Times, that he might exclude oil from the tariffs.
“They send us oil — we’ll see,” Trump said, in the White House meeting. “It depends on what the price is. If the oil is properly priced, if they treat us properly — which they don’t.”
Possible Reverberations
According to Reuters, governments in Canada and Mexico, as well as farmers, business people and others, are bracing for what could happen once the tariffs are in place.
Trump is expected to use the International Emergency Economic Powers Act (IEEPA), while also declaring a state of emergency on both fentanyl and illegal immigration.
Reuters’ analysis added that even if the tariffs are announced this weekend, they couldn’t, logistically, go into effect immediately.
“Even immediate imposition would require two to three weeks of public notice before U.S. Customs and Border Protection could begin collections, based on past tariff actions,” Reuters said.
Canada Is Worried: The View from North of the Border
Canada could retaliate with trade restrictions of their own, including tariffs on orange juice.
The country’s outgoing prime minister, Justin Trudeau, has promised a swift reaction.
“We’re ready with a response – a purposeful, forceful but reasonable, immediate response. It’s not what we want, but if he moves forward, we will also act,” Trudeau said in a televised address this week, per Reuters.
“I won’t sugarcoat it – our nation could be facing difficult times in the coming days and weeks,” Trudeau added. “I know Canadians might be anxious and worried, but I want them to know the federal government, and indeed, all orders of government, have their backs.”
“President Trump’s tariffs will tax America first,” Matthew Holmes, public policy chief at the Canadian Chamber of Commerce, said this week, per Reuters. “From higher costs at the pumps, grocery stores and online checkout, tariffs cascade through the economy and end up hurting consumers and businesses on both sides of the border. This is a lose-lose.”
Donald Trump speaking with supporters at a campaign rally at Veterans Memorial Coliseum at the Arizona State Fairgrounds in Phoenix, Arizona.
And What About Mexico?
As recently as two days ago, Mexico’s president, Claudia Sheinbaum, stated that she didn’t think the tariffs would happen.
“We don’t think it’s going to happen really,” Sheinbaum said during a Wednesday news conference. “And if it happens, we also have our plan.”
About the Author: Stephen Silver
Stephen Silver is an award-winning journalist, essayist and film critic, and contributor to the Philadelphia Inquirer, the Jewish Telegraphic Agency, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. For over a decade, Stephen has authored thousands of articles that focus on politics, technology, and the economy. Follow him on X (formerly Twitter) at @StephenSilver, and subscribe to his Substack newsletter
