Trump confirms he will impose 25% tariffs on Mexico and Canada on Tuesday

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Financial Times 12h ago

Trump confirms he will impose 25% tariffs on Mexico and Canada on Tuesday - Financial Times

Quick Summary:

Canada is by far the biggest foreign oil supplier to the US, accounting for about 60 per cent of its crude imports.

The US president’s comments came a day after his commerce secretary Howard Lutnick suggested that the extent and timing of the planned tariffs were still to be finalised, describing the situation as “fluid”.

Days later, he postponed the implementation of the tariffs to March 4, following frantic last-minute diplomacy between Trump and Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.