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Trump says no more deals: Tariffs set to hit Canada, Mexico

2 1
04.03.2025
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The Big Story

Trump says tariffs will finally take effect tomorrow

The president told reporters Monday that his 25 percent tariffs on Canadian and Mexican goods will be implemented Tuesday, no matter what either nation does to avoid them.

© AP

“The tariffs, they’re all set. They go into effect tomorrow,” he said, adding there’s “no room left for Mexico or Canada” to make a deal before midnight.

Trump had warned last week that the tariffs will go forward after he delayed them for a month following conversations with the Canadian and Mexican leaders, during which they agreed to action to address the flow of drugs at the border.

The president also announced that reciprocal tariffs will start April 2, which will cover imports from all nations that levy import taxes on U.S. goods.

“So, what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs,” Trump said Monday.

The stock market took a hit after Trump’s announcements on tariffs. The Dow Jones Industrial Average was down more than 700 points after Trump’s announcement.

Read the full report at TheHill.com.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.

 

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