President Donald Trump warned Thursday night his sweeping 25 percent tariff on goods from Canada and Mexico begins in 48 hours, adding he's still of a mind to include oil from those countries as part of his import taxes.
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President Donald Trump warned Thursday night his sweeping 25 percent tariff on goods from Canada and Mexico begins in 48 hours, adding he’s still of a mind to include oil from those countries as part of his import taxes.
“We may or may not,” Trump told reporters in the Oval Office about adding border taxes to oil from Canada and Mexico, according to AP. “We’re going to make that determination probably tonight.”
Trump said his decision will be based on whether the price of oil charged by the two trading partners is fair, although the stopping illegal immigration and the smuggling of chemicals used for fentanyl across the borders between the countries remains his primary concern, as Breitbart News reported.
“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” he promised at the time he announced the move.
Trump dismissed worries import taxes on the United States’ trading partners would have a negative impact on the domestic economy.
“We don’t need the products that they have,” Trump said. “We have all the oil you need. We have all the trees you need, meaning the lumber.”
The president also suggested he was still planning to impose new tariffs on China, which he said earlier this month would be 10 percent, but did not give any details.
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“With China, I’m also thinking about something because they’re sending fentanyl into our country, and because of that, they’re causing us hundreds of thousands of deaths,” Trump said.
“So China is going to end up paying a tariff also for that, and we’re in the process of doing that.”
He has previously stated a 10 percent tariff that would be on top of other import taxes already charged on products from China.
