WSJ: Momentum Growing to Slap Canada and Mexico With 25% Tariffs on Feb. 1
Momentum is building for President Donald Trump to levy 25% tariffs on Mexico and Canada on Feb. 1 even though his administration has yet to engage in meaningful trade talks with both countries, a Jan. 26 Wall Street Journal report suggests.
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Trump had indicated on Jan. 20 that he could slap tariffs on those countries as early as this weekend (see 2501200003).
If Trump decides to follow through with these plans, it would run contrary to his previous actions during his first term in office, which was to threaten penalties but still negotiate concessions, according to the report. Compounding the challenge for the governments of Mexico and Canada is that members of Trump's economic team are still awaiting confirmation, limiting options for interaction, the report said.
The White House didn't immediately comment on the report.