
U.S. President Donald Trump Donald Trump shown in the Oval Office at the White House in Washington on Jan. 20, 2025. Carlos Barria/Reuters
U.S. President Donald Trump said he will go ahead with imposing 25 percent tariffs on Canada and Mexico on Feb. 1, adding that the tariffs could rise over time.
“I’ll be putting the tariff of 25 percent on Canada, and separately, 25 percent on Mexico, and we will really have to do that, because we have very big deficits with those countries,” Trump told reporters at the White House on Jan. 30.
Trump said he would be putting the tariffs on because of illegal immigration and drugs like fentanyl coming over the border into the United States. He also mentioned the trade deficit Washington has with the two countries, which he referred to as “the massive subsidies that we’re giving to Canada and to Mexico.”
The president said the 25 percent tariffs would be implemented on Feb. 1, and that they “may or may not rise with time.”
When asked if the tariffs would include oil, he said they “may or may not” and the United States would make the decision by Jan. 31. He said it would depend on “if the oil is properly priced, if they treat us properly,” but added that Canada and Mexico “have never been good to us on trade.”
“We will be able to make that up very quickly because we don’t need the products that they have. We have all the oil you need. We have all the trees you need—meaning the lumber—we have more than almost anybody in those two categories,” he said.