Big tariffs on Canada next week? Not necessarily, White House says
Reports that Canada and Mexico are facing U.S. tariffs next week may have been premature, according to the latest updates from the Trump administration. The White House has clarified that North America-wide tariffs are not yet confirmed, despite President Donald Trump’s recent remarks.
On Monday, President Trump mentioned that tariffs on Canada and Mexico are moving forward as scheduled, but it was not specified which tariffs he was referring to. The president has threatened multiple trade actions for various reasons, with the gravest threat for Canada being the tariffs paused until March 4.
When asked for clarification on the specific tariff plan mentioned by President Trump, the White House revealed that a different plan for retaliatory tariffs on various countries is in progress. This plan involves Trump’s threat to impose trade barriers against countries that have policies unfavorable to the U.S., based on a report requested by the president for April 1.
While this could potentially impact Canada, it is not the severe 25 percent economy-wide tariff or the 10 percent oil tariff that Trump has threatened against Canada and Mexico in the context of renegotiating border policies.
As negotiations continue between the countries, Canada’s ambassador to the U.S., Kirsten Hillman, recently expressed optimism following discussions with Commerce Secretary Howard Lutnick. Positive feedback was received regarding Canada’s new border policies, indicating progress in the ongoing dialogues.
Additionally, the White House refuted a report from the Financial Times suggesting that White House aide Peter Navarro proposed removing Canada from the Five Eyes intelligence-sharing partnership. Navarro vehemently denied the report, and the White House dismissed it as untrue.
Despite the uncertainty surrounding the specific tariffs on Canada and Mexico, ongoing negotiations and diplomatic efforts suggest a potential resolution to the trade tensions. Stay tuned for further updates on this evolving situation.
