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President Donald Trump talks to the members of the press at the Oval Office of the White House on January 30, 2025.
Kent Nishimura for Washington Post | Getty images
Donald Trump has confirmed that he will impose 25% tariffs on imports from Mexico and Canada since February, after Threats issued weeks before.
General tariffs on countries will enter into force on Saturday, February 1.
However, speaking with journalists at the Oval office on Thursday night, Trump told journalists that his administration had not yet determined whether oil imports would be included in politics, pointing out that the decision was set in whether the two Nations “treat us properly” and “and” if the oil has an adequate price “.
“The oil will have nothing to do with that in what is concerned,” he said. “We are going to make that determination probably tonight in oil. Because they send us oil, we will see, it depends on what its price is.”
March contracts for Raw Brent – The global reference point for oil prices – was marginally higher at 8:06 am, London time, which quotes around $ 76.92 per barrel.
Trump told journalists that imminent duties were being leveraged “for several reasons” and “may or may not increase with time.”
“The number one is the people who have reached our country so horribly and so much,” he said. “The number two are the fentanyl drugs and everything else that has entered the country, and the number three are the mass subsidies that we are giving to Canada and Mexico in the form of deficit.”
“I will put the 25% rate in Canada and separately 25% in Mexico, and we will really have to do it because we have very large deficits with those countries,” he added.
Threats to respond in kind
The representatives of the Mexican and Canadian governments were not immediately available to comment when CNBC contacted, although both nations have previously committed to respond to rates with their own measures.
“If there are American tariffs, Mexico would also raise tariffs,” President Claudia Sheinbaum He said at a press conference last weekAccording to the Reuters news agency, he added that this would trigger price increases for US consumers.
In statements to “Squawk on the Street” by CNBC Earl this monthCanada’s Minister of International Trade, Mary NG, said “everything is on the table” when it comes to responding to US tariffs, refusing to rule out export taxes on energy exports to the United States.
“If you are going to put tariffs in Canada, what it really will do is make things more expensive for Americans,” he said.
However, there are also concerns that tariffs affect consumers in Canada and Mexico. Earl this week, For example, the Bank of Canada’s policy formulators warned that such measures from the United States could create persistent inflation in the country.
Both Mexican weight and the Canadian dollar Based higher against the US dollar on Friday morning, recovering losses seen during the night.
The weight increased by 0.3% at 8:18 am London, while the Canadian dollar won 0.2% against the Greenback.
