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Trump: Tariffs on Canada, Mexico to take effect next week

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Quick Hit:

President Donald Trump confirmed that a 25 percent tariff on all goods from Canada and Mexico will take effect next week. The move is intended to pressure the neighboring countries to take stronger measures against undocumented migration and fentanyl trafficking into the U.S. Despite discussions with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, Trump stated the tariffs will proceed as scheduled.

Key Details:

  • The tariffs were initially set for February 4 but were delayed by 30 days following conversations with Trudeau and Sheinbaum.
  • Trump emphasized the need for “reciprocal” tariffs, stating the U.S. has been “mistreated very badly” by many countries.
  • Canada and Mexico have threatened to retaliate if the tariffs are implemented, which could impact over $900 billion in U.S. imports.

Diving Deeper:

President Donald Trump announced on Monday that his administration will move forward with imposing a 25 percent tariff on all Canadian and Mexican goods, effective next week. The decision aims to pressure the two countries into taking stronger actions to curb undocumented migration and fentanyl trafficking into the United States.

Speaking at a joint press conference with French President Emmanuel Macron, Trump stated, “The tariffs are going forward on time, on schedule.” This declaration comes as the new deadline approaches on March 4, after an initial delay of 30 days from February 4, following phone conversations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum.

During the press conference, Trump emphasized the broader issue of tariff reciprocity, claiming, “We’ve been mistreated very badly by many countries, not just Canada and Mexico.” He stressed the need for fairness in international trade, stating, “All we want is reciprocal. We want reciprocity. We want the same.”

Although Trump did not explicitly mention fentanyl or migration in his remarks, his statements apply additional pressure on Canada and Mexico to address his administration’s concerns. According to the White House, Trudeau informed Trump on Saturday that Canada has achieved a 90 percent reduction in fentanyl crossing the U.S. Northern Border and that Canada’s Border Czar will visit the U.S. next week for further discussions.

Together, Canada and Mexico account for more than $900 billion in U.S. imports, including vehicles, auto parts, and agricultural products. Both countries have indicated that they will retaliate if the tariffs are imposed. In a concession to inflation concerns, Trump noted that energy imports from Canada would face a lower tariff rate of 10 percent.

The move underscores Trump’s continued focus on securing U.S. borders and achieving trade reciprocity, while also setting the stage for potential trade conflicts with America’s closest trading partners.

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2025 Federal Election

Fight against carbon taxes not over yet

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By Franco Terrazzano 

As the federal government removes the consumer carbon tax, the Canadian Taxpayers Federation is calling on all party leaders to oppose all carbon taxes, including the hidden tax on business.

“Canadians fought hard to force Ottawa to back down on its consumer carbon tax and now the fight moves to stopping the hidden carbon tax on business,” said Franco Terrazzano, CTF Federal Director. “Canadians can’t afford a carbon tax on business that pushes up prices at the gas station and makes it harder for our businesses to compete while they’re already struggling with a trade war.”

Today, the federal government cut the consumer carbon tax rate to $0. This will reduce taxes by about 17 cents per litre of gasoline, 21 cents per litre of diesel and 15 cents per cubic metre of natural gas.

The federal government still imposes an industrial carbon tax on oil and gas, steel and fertilizer businesses, among others.

During the Liberal Party leadership race, Prime Minister Mark Carney said he would “improve and tighten” the industrial carbon tax and “extend the framework to 2035.”

Just 12 per cent of Canadians believe businesses pay most of the cost of the industrial carbon tax, according to a Leger poll commissioned by the CTF. Meanwhile, 70 per cent said businesses would pass most or some carbon tax costs on to consumers.

Conservative Party Leader Pierre Poilievre said he will “repeal the entire carbon tax law, including the tax on Canadian businesses and industries.”

“Carbon taxes on refineries make gas more expensive, carbon taxes on utilities make home heating more expensive and carbon taxes on fertilizer plants increase costs for farmers and that makes groceries more expensive,” Terrazzano said. “Canadians know Poilievre will end all carbon taxes and Canadians know Carney’s carbon tax costs won’t be zero.

“Carney owes Canadians a clear answer: How much will your carbon tax cost?”

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Business

Trump says ‘nicer,’ ‘kinder’ tariffs will generate federal revenue

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From The Center Square

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President Donald Trump says the slate of tariffs he plans to announce Wednesday will be “nicer,” “kinder” and “more generous” than other countries have treated the U.S.

Trump plans to unveil reciprocal tariffs on all nations that put duties on U.S. imports Wednesday, which the president has been calling “Liberation Day” for American trade.

Trump’s latest comments on tariffs come as he aims to reshape the global economy to reduce U.S. trade deficits and generate billions in federal revenue through higher taxes on imported products.

Trump’s trade policies have upended U.S. and global markets, but the president has yet to get into specifics ahead of Wednesday’s planned announcement.

At the start of March, Trump told a joint session of Congress that he planned to put reciprocal tariffs in place starting April 2.

“Whatever they tariff us, we tariff them. Whatever they tax us, we tax them,” Trump said. “If they do non-monetary tariffs to keep us out of their market, then we do non-monetary barriers to keep them out of our market. We will take in trillions of dollars and create jobs like we have never seen before.”

On Sunday night, Trump said on Air Force One that U.S. tariffs would be “nicer,” “kinder” and “more generous” than how other countries have treated the U.S.

Last week, Trump announced a 25% tariff on imported automobiles, duties that he said would be “permanent.” The White House said it expects the auto tariffs on cars and light-duty trucks will generate up to $100 billion in federal revenue. Trump said eventually he hopes to bring in $600 billion to $1 trillion in tariff revenue in the next year or two. Trump also said the tariffs would lead to a manufacturing boom in the U.S., with auto companies building new plants, expanding existing plants and adding jobs.

Trump predicts his protectionist trade policies will create jobs, make the nation rich and help reduce both trade deficits and the federal government’s persistent deficits.

The “Liberation Day” tariffs come after months of talk since Trump took office in January. On the campaign trail, Trump frequently called “tariff” the most beautiful word in the English language.

James Dorn, senior fellow emeritus at the Cato Institute, said Trump’s rhetoric on tariffs doesn’t match the economic reality of Americans.

“Tariffs expand the scope of government, politicize economic life, increase uncertainty, and reduce individual freedom,” he wrote. “Government officials gain arbitrary power while market participants face fewer opportunities for mutually beneficial exchanges and greater uncertainty as the rules of the game change.”

Dorn said consumers would pay the price.

“Tariffs are levied on U.S. importers as goods – both final and intermediate –subject to the tariff enter the country,” he wrote. “Importers and consumers typically end up paying the tariffs, as they cut into profit margins and drive consumer prices up.”

Business groups, including the U.S. Chamber of Commerce and American Farm Bureau Federation, have urged Trump to back off tariff threats.

Trump has promised that his tariffs would shift the tax burden away from Americans and onto foreign countries, but tariffs are generally paid by the people who import the foreign products. Those importers then have a choice: absorb the loss or pass it on to consumers through higher prices. The president also promised tariffs would make America “rich as hell.”

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