Trump to place 25% tariffs on Canada and Mexico, 10% on China starting Tuesday

The tariffs will go into effect at 12:01 ET on Tuesday, according to an executive order. The White House documents made no mention of exemptions.

Trump said on Thursday that tariffs were imminent.

The fact sheet noted that President Trump said in November – a reference to a post on Truth Social – that the tariffs would apply to “ALL products coming into the United States, and its ridiculous Open Borders.”

Canada and Mexico have vowed to retaliate.

Note that Canada runs a trade surplus with the US, including in steel. But, broadly speaking, the surplus is because the US depends on heavy crude from Canada’s oil sands. Midwest refineries in particular rely on it.

The Trump administration said the tariffs were necessary because of a “national emergency” stemming from “illegal aliens and drugs.” It singled out fentanyl and the chemicals used to make it.

“Tariffs are a powerful, proven source of leverage for protecting the national interest,” the White House said in a statement.

“President Trump is using the tools at hand and taking decisive action that puts Americans’ safety and our national security first,” it added.

The documents mentioned steel only in passing. The fact sheet pointed out that Trump used “national security” to justify tariffs on steel and aluminum. That was a reference to Section 232, which Trump implemented in March 2018.

The measure introduced a 25% tariff on imported steel and a 10% tariff on imported aluminum. Trump came back to the same round numbers in these much broader tariffs.