Trump signals Canada, China and Mexico tariffs could take effect next week, with 'reciprocal' duties planned for April
President Donald Trump said Thursday that 25% tariffs on goods imported from Canada and Mexico would go into effect Tuesday, alongside yet another 10% layer of duties on China following one that went into effect this month.
President Donald Trump said Thursday that 25% tariffs on goods imported from Canada and Mexico would go into effect Tuesday, alongside yet another 10% layer of duties on China following one that went into effect this month.
In a post on his Truth Social app, Trump said the tariffs were needed to combat the continued flow of illicit drugs into the United States.
"We cannot allow this scourge to continue to harm the USA," he wrote, adding that the tariffs would be imposed "until it stops, or is seriously limited."
Trump also said reciprocal tariffs on major trading partners, which he threatened earlier this month, were slated to take effect April 2.
Major stock indexes retreated on the news after notching earlier gains Thursday morning. Trump has continued to keep markets off balance as he has advanced, then withdrawn, various tariff proposals in recent weeks. He has also offered conflicting rationales for imposing them, with a long-running fixation on closing the U.S. trade deficit giving way to ongoing concerns about drug flows — even though interdiction data from the U.S. Customs and Border Protection show trafficking is already in retreat.
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