The United States will implement tariffs on Canada and Mexico starting March 4, but the final rate remains uncertain, pending President Trump’s decision. Commerce Secretary Howard Lutnick indicated that the situation is subject to ongoing negotiation. Concerns over fentanyl trafficking continue to influence tariff considerations, alongside potential tariff increases on China.
In Washington, DC, tariffs imposed by the United States on Canada and Mexico are set to take effect on Tuesday, March 4, as previously scheduled. However, it remains uncertain whether these tariffs will reach the anticipated 25 percent level, as President Donald Trump will have the final say on the matter, according to America’s Commerce Secretary Howard Lutnick. He mentioned this during an interview on the Fox News program “Sunday Morning Futures.”
Lutnick described the tariff situation as “fluid,” indicating ongoing negotiations by the President and his administration. The current 30-day suspension of duties tied to President Trump’s concerns over illegal border crossings and fentanyl trafficking is nearing expiration on March 4. Although Lutnick acknowledged Canada and Mexico’s efforts to manage their borders effectively, he pointed out that the issue of fentanyl remains a significant challenge.
Additionally, Lutnick noted that President Trump may announce an increase in tariffs on China if it does not take action to curb fentanyl trafficking. His comments represent one of the first indications from the administration regarding a possible deviation from the anticipated 25 percent tariffs on certain goods from these countries.
Confusion ensued last week when President Trump mentioned a potential April 2 deadline for the tariffs but later reaffirmed the original Tuesday deadline. Furthermore, he indicated plans to increase duties on Chinese imports, thereby doubling the tariffs that were previously set on February 4. When questioned about the possibility of halting tariffs, the President asserted, “I am not stopping the tariffs, no. Millions of people have died because of the fentanyl that comes over the border…Yeah, they have been good, but that is also due to us. Mostly due to us.”
In summary, the imposition of tariffs on Canada and Mexico is confirmed to begin on March 4, yet the specific rate may vary from the predicted 25 percent. This decision rests with President Trump, who is simultaneously contemplating increased tariffs on China concerning fentanyl trafficking. Current discussions imply a nuanced approach as the administration navigates these complex trade relationships.
Original Source: www.ndtv.com
