President Trump said Monday that sweeping tariffs on Canada and Mexico would go into effect on Tuesday morning, saying in remarks at the White House there was no chance for a last-minute deal to avert the levies.
“The tariffs, you know, they’re all set,” Mr. Trump said. “They go into effect tomorrow.”
The tariffs will add a 25 percent fee on all Mexican and Canadian exports coming across those borders and an additional 10 percent for Chinese goods.
Mr. Trump has described this as an effort to pressure those countries to stop the flow of deadly drugs and migrants to the United States. But the tariffs will have significant consequences for companies that rely on international supply chains, and are also likely to result in higher costs for American consumers.
Mr. Trump had threatened to impose the levies on the three countries beginning Feb. 4. But he decided to pause them on Canada and Mexico for one month after both countries promised measures like Mexico’s sending more troops to the border and Canada’s appointing a “fentanyl czar.”
Mr. Trump did move forward with imposing a 10 percent tariff on all products from China, which prompted retaliation from that country. He is now planning another 10 percent on all Chinese imports, which would come on top of the 10 to 25 percent tariffs he imposed on many Chinese products in his first term.
