Canada is preparing for potentially severe tariffs from the U.S. as President Trump hints at punitive measures against the country regarding drug policies and immigration. U.S. Commerce Secretary Howard Lutnick has indicated uncertainty around the specifics of these tariffs, which could range from the originally promised 25% to potentially lower rates. If a decision is not announced, high tariffs might automatically go into effect. This comes after a month-long pause on tariffs, with an executive order delaying them until March 2025.
Even Commerce Secretary Howard Lutnick, the U.S. tariff czar, said Monday he doesn't know what exactly will transpire tomorrow, saying it's Trump who will make the final call.
He knows they've done a good job on the border. They haven't done enough on fentanyl. Let's see how the president weighs that today.
It's a fluid situation. There are going to be tariffs on Tuesday on Mexico and Canada exactly what they are I'm going to leave that for the president and his team to negotiate.
After Trump agreed to back down on tariffs for a month, he issued an executive order that said the tariffs 'shall be paused and will not take effect until March 4, 2025, at 12:01 a.m. Eastern Time.'
Collection
[
|
...
]