U.S. President Donald Trump has announced plans to impose 25% tariffs on products imported from Canada and Mexico, with the policy potentially taking effect as early as Feb. 1.
Trump made the statement on Monday at the White House while signing executive orders shortly after his inauguration for a second term.
“We’re thinking in terms of 25% on Mexico and Canada because they’re allowing vast numbers of people to come in,” Trump said, citing concerns over immigration. “I think we’ll do it Feb. 1.”
The announcement follows earlier reports by the Wall Street Journal, which suggested that Trump might initially refrain from imposing tariffs and instead instruct authorities to review trade relations with Canada, Mexico, and China.
During his campaign, Trump threatened to reintroduce tariffs on North American trade partners as part of his broader agenda to renegotiate trade agreements and address perceived imbalances.
Trump previously implemented a range of tariffs on imported goods during his first term in office from 2017 to 2021, sparking global trade tensions.
The potential tariffs have raised concerns in the European Union as well, with fears that additional trade restrictions could be extended to EU nations.
Tariffs, which are surcharges on imported goods, are paid as products enter the U.S., often resulting in higher prices for consumers and businesses reliant on foreign imports.
The administration has yet to provide details on the proposed tariff list or outline plans for renegotiating trade terms with North American partners.
