Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Politics

White House to impose tariffs on Mexico, Canada and China due to ‘invasion of illegal fentanyl’

by January 31, 2025
January 31, 2025
White House to impose tariffs on Mexico, Canada and China due to ‘invasion of illegal fentanyl’

White House Press Secretary Karoline Leavitt confirmed that President Donald Trump will execute tariffs on Mexico, Canada and China starting Saturday.

Trump’s economic plan during his campaign called for extending the 2017 tax cuts and imposing tariffs ranging from 10% to 20% on all imported goods. For countries like China, that number could go up to 60%.

These countries will face these tariffs because they have allowed an ‘unprecedented invasion of illegal fentanyl that is killing American citizens,’ according to Leavitt. 

‘The president will be implementing tomorrow a 25% tariff on Mexico, 25% tariffs on Canada, and a 10% tariff on China for the illegal fentanyl they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans,’ Leavitt told reporters at a Friday White House press briefing. ‘These are promises made and promises kept.’

Canadian Prime Minister Justin Trudeau said Friday that Canada was prepared to respond to any tariffs executed, and warned there could be ‘disastrous consequences’ for American workers and consumers. 

‘We’re ready with a response, a purposeful, forceful but reasonable, immediate response,’ Trudeau said. ‘It’s not what we want, but if he moves forward, we will also act.’

Meanwhile, Leavitt said that the tariffs are not expected to spark a trade war with Canada and that Trump would respond to Trudeau in ‘due time.’ 

‘The president is intent on doing this,’ Leavitt said. ‘And I think Justin Trudeau would be wise to talk to President Trump directly before pushing outlandish comments like that to the media.’

When asked if Mexico, Canada or China could offer any concessions to remove these new tariffs, Leavitt said Trump would decide at a later date. 

‘If the president at any time decides to roll back those tariffs, I’ll leave it to him to make that decision,’ Leavitt said. ‘The president is intent on ensuring that he effectively implements tariffs while cutting inflation costs for the American people.’ 

House Republicans moved to reintroduce the U.S. Reciprocal Trade Act on Jan. 24, a measure that would permit Trump to unilaterally impose trade taxes on both adversaries and allies. 

Trump previously praised the measure in 2019, claiming it would ‘give our workers a fair and level playing field against other countries.’

Meanwhile, House Democrats Reps. Suzan DelBene, D-Wash., and Don Beyer, D-Va., also introduced their own legislation in January that would block Trump from using emergency powers to implement tariffs, amid concerns that American consumers would end up footing the bill.

‘The American people have clearly and consistently said that the high cost of living is one of their top concerns,’ DelBene said in a statement on Jan. 15. ‘Not only would widespread tariffs drive up costs at home and likely send our economy into recession, but they would likely lead to significant retaliation, hurting American workers, farmers, and businesses.’

The Associated Press and Fox News’ Elizabeth Elkind contributed to this report. 

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch.
next post
Since taking office, what are the legal challenges launched against the Trump admin?

You may also like

House Dems’ campaign chair says her party’s ‘on...

June 1, 2025

Trump victory boosts conservatives in Latin America, wake-up...

December 2, 2024

Trump shoots down rumors he will seek 3rd...

May 4, 2025

RFK Jr. invokes Democrat father’s words to defend...

September 4, 2025

Trump names latest White House staff picks as...

January 5, 2025

CDC seems to defy Trump executive order by...

February 26, 2025

Space-based missile-killing Golden Dome tech aims for crucial...

August 6, 2025

New book exposes how top Biden comms staffer...

May 22, 2025

Head of UN watchdog says UNRWA hired people...

February 14, 2025

PETA, animal rights groups praise Trump admin for...

April 13, 2025

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • President Donald Trump commutes former New York GOP Rep. George Santos’ prison sentence

      October 17, 2025
    • ‘Democrat shutdown’ will next jeopardize US nuclear stockpile with imminent furloughs: White House

      October 17, 2025
    • Supreme Court sets date to hear FTC Slaughter case in test of Trump’s firing powers

      October 17, 2025
    • ‘Time for a change’: Outside 30 Rock, New Yorkers trade chants and arguments during tense mayoral showdown

      October 17, 2025
    • Andrea Bocelli gives Trump impromptu Oval Office performance during White House visit

      October 17, 2025
    • Giorgio Armani group names longtime executive Giuseppe Marsocci as CEO

      October 17, 2025

    Categories

    • Business (814)
    • Investing (661)
    • Politics (5,986)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 WhaleLargeCapital.com | All Rights Reserved