RamsayBolton
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Trump says tariffs on Canada and Mexico coming Saturday, and he's deciding whether to tax their oil
President Donald Trump says his 25% tariffs on Canada and Mexico are coming on Saturday. Trump also said he'll "probably” decide on Thursday night whether to include oil from those countries as part of his import taxes.
apnews.com
President Donald Trump said his 25% tariffs on Canada and Mexico are coming on Saturday, but he’s still considering whether to include oil from those countries as part of his import taxes.
“We may or may not,” Trump told reporters Thursday in the Oval Office about tariffing oil from Canada and Mexico. “We’re going to make that determination probably tonight.”
Trump said his decision will be based on whether the price of oil charged by the two trading partners is fair, although the basis of his threatened tariffs pertains to stopping illegal immigration and the smuggling of chemicals used for fentanyl.
Mexico Readying Retaliatory Tariffs, Potentially Targeting U.S. Ag
“Mexico President Claudia Sheinbaum said on Wednesday she does not believe the United States will impose tariffs on Saturday as President Donald Trump has pledged, but said her administration has its own response plan in place if needed,” according to a report by Reuters.
www.agriculture.com
“Retaliatory tariffs would initially exempt the automotive industry, the sources said, sparing what has become Mexico’s most important manufacturing sector and one that is closely integrated with the United States,” Oré reported. “‘Mexico is ready to apply retaliatory tariffs of 5%, 10%, 20%,’ said one of the sources, a Mexican government official. ‘However, we are still in constant dialogue because the effects would hit both countries, jobs on both sides of the border will be put at risk,’ the sources added.”
“The retaliatory tariffs would most likely be on pork products, cheese, apples, grapes, potatoes, cranberries, and Bourbon whiskey, as well as manufactured steel and aluminum, the sources said,” Oré reported. “‘Mexico has chosen these products because they have a big impact on regions that voted overwhelmingly for Trump,‘ said the second source, who has knowledge of the government plans.”