The 25% tax that President Donald Trump plans to slap as soon as Saturday on imports from Canada and Mexico could drive up the price of everything from gasoline to pickup trucks to the guacamole dip that features so prominently at American Super Bowl
US President Donald Trump has said he will follow through with his threat to hit imports from Canada and Mexico with 25% border taxes, known as tariffs, on 1 February. But he added that a decision about whether this would include oil from those countries had not yet been made.
TORONTO — Roughly $900 billion in annual trade between Canada and the United States — and, with it, traditionally chummy bilateral ties — is on the brink of upheaval, with President Donald Trump threatening to impose sweeping tariffs on Canada as early as this weekend.
Canada's government on Friday announced that it would defer the implementation of the controversial changes in the capital gains tax to January next year.
President Trump says he will smack North American neighbors with tariffs on Saturday, while leaders in Mexico and Canada say they are ready to hit back.
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With a decision on oil imminent, the U.S. President repeated his three reasons for imposing tariffs: illegal migration, fentanyl smuggling across the border and imbalances on trade
We don’t need the products that they have. We have all the oil that you need. We have all the trees you need,” he said.
The president said oil "may or may not" be affected by his tariffs on the two countries, which are set to take effect on Saturday.
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President Donald Trump has threatened universal duties and said they'll raise money, but he is also using tariff threats as diplomatic leverage.