Trump says 25% tariffs on Canada and Mexico coming on Feb. 1 as he signs several orders on economy

Los Angeles Times ^ | Jan. 21, 2025 7:34 AM PT | Josh Boak, Matthew Daly and Paul Wiseman

[E. Pluribus Unum]

WASHINGTON —  President Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports.

Trump made the announcement in response to reporters’ questions while signing executive actions in the Oval Office on his first day back in the White House.

Trump threatened tariffs of as much as 60% on China during his campaign, but appeared to temper his plans after a phone call last week with Chinese President Xi Jinping. He said Monday there would be more discussions with his counterpart in the world’s second-largest economy.

“We’re going to have meetings and calls with President Xi,” Trump said.

Trump is placing a big bet that his executive actions can cut energy prices and tame inflation and that the tariffs will strengthen the economy instead of exposing consumers to higher prices. But it’s unclear whether his orders will be enough to foster the growing economy with the lower prices he promised voters.

Trump specifically blamed the inflation on the $1.9 trillion in pandemic aid provided in 2021 by then-President Biden, while saying that his predecessor’s policies restricted oil drilling despite domestic output being near record levels.

“The inflation crisis was caused by massive overspending,” Trump said in his inaugural address.

Orders on Monday included opening up the Arctic National Wildlife Refuge in Alaska to oil drilling and easing the regulatory burdens on oil and natural gas production. He also declared a national energy emergency in hopes of jump-starting more electricity production in the competition with China to build out technologies such as artificial intelligence that rely on data centers using massive amounts of energy.

Trump also signed a directive telling federal agencies to conduct a 30-day review of how they can help to lower the costs of housing,...

[goodnesswins]

Does this include any on money sent to Mexico from “workers” here?

[HighSierra5]

Do it! Do it! Do it!

[bigbob]

The Great White North just got a little more expensive, eh Castro Jr?

[Reily]

Need 50% (or more!) tariffs on PRC produced items!

[Cold Heart]

No more Mexican maple syrup

[Dr. Sivana]

I would prefer if the tariffs coincided with offsetting income tax deductions.

On the other hand, this may be a way to get them to the table to negotiate the border.

[crz]

There is a parade of some 20 thousand in southern Mexico heading north right now.

And not one attempt by Mexico to stop them.

Invade that SOB country and carve out a huge chunk to put these border jumpers. That government is making big money off from illegal immigration through the cartels.

[packagingguy]

I think the border issue is what this is about.

Stop the migrants or we tax your products.

[SaxxonWoods]

If some progress happens he can hold up for another 30 days. It will be Trump’s call on the progress and the response.

[Bernard]

Build, Baby, Build! Time to move manufacturing back to America. No tariffs, no waiting for ships to unload at the ports, no need for semis crossing the border from Mexico loaded with product, and sometimes illegals being smuggled in.

And enforce the I-9 regulations. Almost like rules apply to everyone. And nobody is above the law.

[Governor Dinwiddie]

Oh noes! No more back bacon!   /sarc

[Governor Dinwiddie]

A-10 Warthog.

[crz]

Gonna have to do something thats for sure.

[Brian Griffin]

I don’t see the justification for tariffs on Canadian stuff.

[Brian Griffin]

I’m in favor of financially balanced trade by tariffs initially, then domestic production requirements and a blocked currency.

The tariffs might be based on:
1. product necessity [0% (drug, raw material, industrial level component of product with no domestic source) total, or 10%],
2. industry wage differential [0-20%, 2% per dollar, as estimated by Secretary of Commerce, levied if country not poor],
3. latest 12-month cash flow imbalance computation [by percent, 0-10% all country, 0-20% source country industrialized],
4. 12-month exchange rate change by country [proportional to 10%, up to 10% reduction, but to not less than 10% tariff],
5. domestic producer profitability [percentage less than 10%; excess above 10%, up to 5% reduction, but to not less than 10% tariff], and
6. trade imbalance [0-20%] with a country.

[Clutch Martin]

Cool, that’ll up the price on Fender guitars which means I could quite possibly get betters deals offloading some of the shelf stock I have laying around here.

[ridesthemiles]

UNIONS AT PORTS CANNOT CAUSE MASSIVE DISRUPTIONS WITH STRIKES.

[SMARTY]

“...Stop the migrants or we tax your products...”

Well ... true, but it's a great place to start, like...

How's bout: “We'll back off the 25% IF and WHEN you cooperate with our deportations, and getting criminals and other illegals out of the US?”