Trump set to impose tariffs on Mexico, Canada

US President Donald Trump is expected to announce new tariffs against Canada and Mexico beginning on March 1.

News ID: ۲۰۰۰۷۶۴

01 February 2025

EghtesadOnline: US President Donald Trump is expected to announce new tariffs against Canada and Mexico that will begin on March 1, but will include a process for the countries to seek specific exemptions for certain imports, three people familiar with the planning told Reuters.

The tariff situation remained fluid on Friday and no decision is final until Trump makes a public announcement.

The sources, who asked not to be named because they are not authorized to speak publicly on the matter, said they did not have details on a final tariff rate, but noted Trump has consistently said that he plans to impose a 25% tariff on imports from the two countries on Saturday.

Separately, an administration official said Trump on Friday was reviewing tariff plans, which may allow for some exemptions. Still, any exemptions would be "few and far between," the official said.

While the announcement of tariffs may roil financial markets and strain the US relationship with its top two trading partners, offering a 28-day window before implementation and a process for exemptions would suggest a more careful approach by the Trump administration. / Mehr