Heavy weight! The United States announced that tariffs on Canada will take effect as scheduled, but there may be significant adjustments to the tax rates
US Commerce Secretary Howard Lutnick stated in an interview with Fox News on Sunday that tariffs on Canada and Mexico will take effect as scheduled on Tuesday, but the final tax rates will be determined by President Trump.
Previously, Trump had stated that he would impose a 25% tariff on these two countries on March 4th.
Lutnick pointed out that Canada and Mexico have "done quite well" in strengthening US border security, so Trump is considering the final level of tariffs.
Lutnick said, 'He is currently considering how to specifically respond to Mexico and Canada, which is still a dynamic situation. Tariffs will definitely be imposed on Mexico and Canada on Tuesday, but the specific tax rates will be decided by the president and his team.'.
In addition, Lutnick stated that Trump is expected to increase tariffs on China from 10% to 20% on Tuesday unless China stops trafficking fentanyl to the United States.
Source link:
https://www.theglobeandmail.com/world/article-mexico-canada-tariffs-coming-tuesday-but-trump-will-set-exact-levels/