Last Updated on March 3, 2025
President Donald Trump is moving ahead with 25 percent tariffs on Canadian and Mexican imports, which will launch at exactly midnight (ET) on Tuesday morning.
“The tariffs, they’re all set. They go into effect tomorrow,” President Donald Trump stated Monday, referring to 25 percent tariffs on imported merchandise and products from Canada and Mexico. Trump noted that Canada and Mexico cannot stop the tariffs before they hit on Tuesday.
“Tomorrow — tariffs 25% on Canada and 25% on Mexico. And that’ll start. They’re going to have to have a tariff,” Trump stated in a White House press conference.
President Trump is known for his staunch support for American farmers, small business owners, and manufacturers.
As Trump also moves to gain a raw minerals deal as part of a possible peace deal with Ukraine, we see clearly that Trump is putting America First economically.
President Donald Trump is exerting his negotiating power on the world stage by gaining potentially “substantial tariff income,” according to Trump’s Treasury Secretary Scott Bessent. The Trump administration official revealed on Bloomberg Television this past Friday that Mexico has proposed matching U.S. tariffs on Chinese imports. Evidently, Mexico did not act fast enough to be able to avoid the 25 percent tariff that Trump is now hitting them with.
“Much of the tariff income could be substantial. We will see where the tariffs finally end up. The China tariffs, since they were put on, have brought in substantial revenue. They continue to bring in substantial revenue,” Bessent said.
“President Trump has talked about reciprocal tariffs. If tariffs are his favorite word, I would say ‘reciprocal’ has gotten to be his second-favorite word. And in the reciprocal tariffs, you actually don’t know the path of what’s going to happen…because the idea there is, that if Europe has a 12 and a half percent tax on OUR cars, we can either put a 12 and a half percent tax on theirs, or the tariffs could get dropped altogether. So, it’s going to be very path-dependent. But I would expect that with the ten-year scoring that the CBO likes to use, that there could be substantial tariff income over the next ten years,” Bessent explained.
President Trump recently laid out his “Reciprocal Tariff” strategy, which would impose a tariff on “whatever Countries charge the United States of America…”
Trump is still holding his tariff cards close to his chest, as any master negotiator would. According to his Treasury Secretary, Trump’s overall tariff strategy seems to be working.
