Trump says 25% tariffs on Mexico and Canada may exclude oil
Donald Trump has stated that he will put 25% tariffs on imports from Mexico and Canada beginning in February, following through on threats made weeks earlier.
The blanket taxes on the countries’ products will take effect on Saturday, February 1.
«Oil is going to have nothing to do with it as far as I’m concerned,» he told me. «We’ll probably make that decision tonight on oil. Because they supply us oil, we’ll see – it all relies on their price.»
Mexico and Canada are the United States’ largest trading partners. During his first term in office in 2020, Trump replaced the three nations’ long-standing North America Free Trade Agreement (NAFTA) with his United States-Mexico-Canada Agreement (USMCA), which was hailed as a better deal for American businesses.
On Friday, Sheinbaum told reporters that Mexico will «wait with a cool head» before deciding how to respond to Trump’s tariffs.
