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US President Donald Trump has confirmed that his administration will impose 25% tariffs on goods imported from Mexico and Canada, with the new trade measures set to take effect on April 2. Despite a significant drop in illegal border crossings, Trump insisted that the tariffs were necessary, particularly to combat the fentanyl crisis.
“We’ve lost millions of people due to fentanyl. It mostly comes from China, but it enters through Mexico and Canada. On April 2, the tariffs go on, and I think you’re going to see something amazing,” Trump said before his Cabinet meeting on Wednesday.
30-Day Pause Ends, Tariffs to Proceed
The decision follows a 30-day pause on tariffs, initially linked to border security concerns. When asked whether he would reconsider the tariffs given a reported 90% drop in illegal crossings, Trump stood firm.
“I’m not stopping the tariffs, no. Millions of people have died because of fentanyl crossing the border. Yes, Mexico and Canada have been helpful, but that’s also because of our efforts,” he stated.
Following Trump’s comments, both the Canadian dollar and Mexican peso saw fluctuations in value against the US dollar.
Canada and Mexico Respond
Canada has taken a cautious approach, with Innovation Minister Francois-Philippe Champagne stating that the government will wait for official executive orders before reacting.
“Our mission is still to avoid the tariffs or extend the suspension if needed,” Champagne said, adding, “We are prepared. There will be a targeted, strategic, but firm response if tariffs are imposed.”
Meanwhile, Mexico’s Economy Ministry has yet to issue a formal response, but Economy Minister Marcelo Ebrard is scheduled to meet with US Trade Representative Jamieson Greer on Thursday and Commerce Secretary Howard Lutnick on Friday to discuss trade concerns.
Trump Eyes Reciprocal Tariffs on EU Imports
Trump also announced plans to impose reciprocal tariffs on goods from the European Union, matching their import duty rates and restrictions on American products.
When asked about the tariff rate for EU goods, he confirmed, “We have made a decision, and we’ll be announcing it very soon. It will be 25%, generally speaking, on cars and other things.”
He further criticized the EU’s trade policies, claiming, “They don’t accept our cars, they don’t accept our farm products, and the EU was formed to take advantage of the United States.”
EU Promises Strong Retaliation
In response, an EU Commission spokesperson warned that the bloc would take firm action against unfair tariffs.
“The European Union is the world’s largest free market. It has been a boon for the United States. We will react firmly and immediately against unjustified barriers to free and fair trade,” the spokesperson said.
With tensions rising on multiple trade fronts, the coming weeks will be crucial in shaping the next phase of US economic policy.
Gill Bikram Singh