The president of the United States, Donald Trump, said this Monday that he is considering imposing 25% tariffs on imports from Canada and Mexico because they allow many people to cross the border, as well as fentanyl.
He added that the measure could arrive on February 1.
“We are thinking about 25% for Mexico and Canada, because they are allowing a large number of people to enter” the country. I think we’ll do it on February 1,” Trump said in response to questions from reporters, sitting behind the Resolute Desk in the Oval Office.
Trump’s plans to impose tariffs on two neighbors vital to U.S. energy and auto imports threaten to spark a trade war between USMCA signatories, according to Bloomberg News.
The agreement governs the flow of $1.8 trillion in trade in goods and services, according to 2022 data cited by the agency.
Read: Trump memorandum would order evaluation of trade relationship with Mexico
Trump also indicated that he was still considering a universal tariff on all imports to the United States, but said he was “not ready for that yet,” according to Bloomberg News.
“A universal tariff would be imposed on anyone doing business in the United States, because they come and steal our wealth,” he said, adding that implementation could be “quick.”
Additionally, Trump noted that he had spoken with Canadian Prime Minister Justin Trudeau on Monday.
With information from Reuters and Bloomberg
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