President Donald Trump plans to implement significant new tariffs on Canada, Mexico, and China starting Saturday, sticking to his February 1 deadline despite potential economic repercussions, the White House confirmed.
During a Friday briefing, White House press secretary Karoline Leavitt reiterated that the president remains committed to the timeline he announced weeks ago. Meanwhile, Canadian officials were set to meet with White House border czar Tom Homan in a last-minute effort to prevent the tariffs, according to sources familiar with the discussions.
However, when asked whether any actions by Canada, Mexico, or China could stop the tariffs, Trump firmly responded, “No.” His administration’s confirmation put to rest speculation over whether he would follow through on a campaign promise to impose these duties.
Leavitt outlined that the tariffs would impose a 25% duty on goods from Mexico and Canada and a 10% tariff on China, citing the country’s role in fentanyl distribution. She called the move part of Trump’s commitment to delivering on his promises but provided no details on implementation, noting that specifics would be available within 24 hours. She also did not clarify whether oil imports would be affected or if any exemptions would apply.
Later in the day, Trump suggested additional tariffs were on the horizon, mentioning duties on semiconductors, oil, gas, steel, aluminum, and copper, with copper tariffs taking slightly longer to roll out. He also announced plans to impose tariffs on pharmaceuticals, arguing that such measures would help revive U.S. manufacturing.
Trump defended the move as a strategic effort to strengthen the U.S. economy and bring trading partners to the negotiating table. However, critics warn that the tariffs could backfire, raising costs for American consumers. When pressed on the potential impact, Trump acknowledged possible short-term disruptions but insisted Americans would understand the necessity. He also downplayed reliance on imports from Canada and Mexico, saying, “We don’t need what they have.”
While some economists acknowledge that tariffs can be effective in certain cases, most agree they contribute to inflation by increasing costs for importers, who typically pass those expenses on to consumers. Research from the Peterson Institute for International Economics suggests that Trump’s proposed tariffs could significantly raise prices on goods ranging from footwear and toys to food.
According to estimates from Karl Schamotta of Corpay Cross-Border Solutions, the tariffs could add $272 billion annually to tax burdens. The Peterson Institute projects that the average U.S. household could pay over $2,600 more per year as a result.
Despite these concerns, some business leaders argue the long-term benefits outweigh the risks. JPMorgan CEO Jamie Dimon recently stated that if tariffs address national security issues, minor inflationary effects should be accepted.
Compared to Trump’s first term, the new tariffs would be far more extensive. While his earlier tariffs affected approximately $380 billion in foreign goods, the current proposal targets about $1.4 trillion in imports, according to the Tax Foundation.
Economists warn that these aggressive tariffs could have serious economic consequences, particularly given existing price increases. Joe Brusuelas, chief economist at RSM, cautioned that imposing a 25% tariff on Mexican goods, including avocados, just before the Super Bowl could provoke strong consumer backlash.
Shivam Pathak is a content creator with 5+ years of experience covering Finance, Career, News, Health, Reviews, and Horoscope. Passionate about delivering accurate and engaging insights, he helps readers stay informed with well-researched content.