“We’ll be announcing the tariffs on Canada and Mexico for a number of reasons,” Trump told reporters in the Oval Office. He cited the influx of migrants at the southern border, the flow of fentanyl into the United States and the trade deficit the U.S. has with its neighbors.
“I’ll be putting the tariff of 25 percent on Canada and Mexico, and we will really have to do that because we have very big deficits with those countries,” he said. “Those tariffs may or may not rise with time.”
Trump added that he would decide Thursday night whether to include oil among the items subject to tariffs.
“We may or may not. We’re going to make that determination, probably tonight, on oil. Because they send us oil, we’ll see. It depends on what the price is. If the oil is properly priced, if they treat us properly, which they don’t,” Trump said.
“Look, Mexico and Canada have never been good to us on trade,” he continued. “They’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have.”
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