President Trump has reinstated his tariffs on Canada, Mexico, and China under the International Emergency Economic Powers Act after temporarily suspending the tariffs last month during negotiations to secure the border and stop the flow of fentanyl.
However, the President told reporters on Monday that there is “no room left for Mexico or for Canada,” citing the “vast amounts of fentanyl” that has come into the U.S.
Trump: No room left for Mexico or for Canada. No, the tariffs, you know, they’re all set. They go into effect tomorrow… And just so you understand, vast amounts of fentanyl have poured into our country from from Mexico, and as you know, also from China, where it goes to Mexico and goes to Canada. And China also had an additional 10%, so it’s 10% plus 10%. And it comes in from Canada, and it comes in from Mexico. And that’s a very important thing to say.
Trump slapped the tariffs on the three countries under the International Emergency Economic Powers Act in February.
- 25% tariffs on all Mexico imports
- 25% tariffs on nearly all Canadian imports — 10% on Canadian energy resources
- 10% tariffs on all China imports
An additional ten percent tariff on China was imposed on Tuesday, bringing the total to 20%.
After the economic and political fallout, Trudeau caved to Trump’s demands and agreed to implement a $1.3 billion border plan to reinforce border security. He promised “new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl.” Trump, in turn, agreed to suspend the tariffs temporarily for one month.
Mexican President Claudia Sheinbaum also agreed to send 10,000 Mexican Soldiers to the border in exchange for a temporary pause on tariffs less than 48 hours after President Trump imposed tariffs on the country.
Still, this wasn’t enough as “drugs are still pouring into our country and Mexico at very high and unacceptable levels,” said President Trump in a statement last week.
As The Gateway Pundit reported, the Trump Effect is already in swing for multiple companies, including Honda, which announced it will produce its next-generation Civic hybrid in the United States instead of Mexico to avoid potential tariffs.
While speaking to the press on Monday to announce a $100 billion investment by Taiwan Semiconductor Manufacturing Company (TSMC) in U.S. chip manufacturing, the President responded to the news of Honda moving its manufacturing to Indiana. He also noted that TSMC CEO C.C. Wei was “way ahead of the game,” avoiding tariffs by manufacturing in the U.S. Other industries, including furniture in North Carolina, will make a comeback because of these tariffs, Trump said.
WATCH:
Trump: Honda is coming, and I told you about Apple that they’re going to be starting to build massively here: $500 billion. And we have many other companies, going to be announced, but we have many that have already announced, and now it’s going to be great. It’s looking really strong. I don’t think this country has ever seen anything like we’re seeing right now.
Reciprocal tariffs start on April 2. And I wanted to make it April 1, but I didn’t want to do it; I didn’t want to go April Fool’s Day, because that costs a lot of money, but, that one day, so we’re going April 2. But very importantly, tomorrow, tariffs, 25% on Canada and 25% on Mexico, that’ll start. So they’re going to have to have a tariff.
This is exactly what Mr. Wei is doing by building here. Otherwise, they’ll build—if they did them in Taiwan to send them here, they’ll have 25% or 30% or 50% or whatever the number may be someday. It’ll go only up. But by doing it here, he has no tariffs, so he’s way ahead of the game. And I would just say this to people in Canada or Mexico, if they’re going to build car plastic, people that are doing them are much better off building here because we have the market. We’re the market where they sell the most. And so I think it’s going to be very exciting, very exciting for the automobile companies, very exciting for I can think of any—as an example, North Carolina, they had the great; I used to go there to get my furniture for hotels, and it’s been wiped out. That business all went to other countries, and now it’s all going to come back into North Carolina, the furniture manufacturing business.
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