President Trump confirmed Thursday that tariffs he had threatened and then delayed against Canada and Mexico are set to go into effect next week, while China will face increased tariffs as part of a push to crack down on fentanyl.
“Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels. A large percentage of these Drugs, much of them in the form of Fentanyl, are made in, and supplied by, China,” Trump posted on Truth Social.
“We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled,” Trump added. “China will likewise be charged an additional 10% Tariff on that date.”
The president signed off on 25 percent tariffs on Mexican and Canadian imports earlier this month, but then delayed them for a month after those two countries took actions to address the flow of drugs at the border.
Trump had been vague in recent days about whether those tariffs were set to go into effect Tuesday as scheduled, but his Truth Social post made clear they would. It’s unclear if Canada or Mexico can take additional action to satisfy Trump and stave off the tariffs, which experts have warned would be damaging to all three North American economies.
While Trump had delayed the initial tariffs on Canada and Mexico, he had imposed a 10 percent tariff on Chinese imports over the issue of fentanyl production. China responded with retaliatory tariffs on U.S. goods.
Trump has also threatened reciprocal tariffs on imports from all nations that levy tariffs on U.S. goods, set to take effect in early April. He has also floated putting tariffs on automobile imports, lumber, pharmaceutical products and other goods.
Experts have repeatedly warned that tariffs could lead to higher prices that would be passed onto U.S. consumers. Trump has acknowledged there could be short-term pain for Americans but has argued that tariffs would be an incentive for companies to do more business in the United States.
