Trump to decide on oil tariffs on Canada, Mexico

BSS
Published On: 31 Jan 2025, 09:33

WASHINGTON, Jan 31, 2025 (BSS/AFP) - US President Donald Trump said he
expected to decide Thursday whether to include crude oil imports in tariffs
on Canada and Mexico that are due to take effect within days.

"We're going to make that determination probably tonight," Trump told
reporters in the Oval Office when asked about the possibility of levies on
oil from the two US neighbors.

He added that the decision "depends on what the price is -- if the oil is
properly priced, if they treated us properly."

Trump confirmed he was going ahead with his previously announced plan to
begin imposing a 25 percent levy on all Canadian and Mexican imports from
Saturday.

It had not previously been clear whether oil would be included or not.

Canada and Mexico supplied more than 71 percent of US crude oil imports in
2023, with nearly 60 percent coming from Canada alone, a congressional report
said.

Trump has accused the two key trading partners of failing to tackle illegal
immigration and drug trafficking.

He has also ramped up tensions with Ottawa in particular, repeatedly floating
the unlikely idea of Canada becoming the 51st US state.

Trump's January 20 inauguration has sparked fears of a return to the global
trade wars that marked his first term in office from 2017 to 2021.

The Republican has also been wielding tariffs to back up other policy
threats.

He threatened Colombia last week with huge levies for turning back two US
military planes carrying undocumented migrants. Bogota then backed down.

China is another possible target, although Trump's tone has varied on whether
he will hit America's biggest economic rival with tariffs too.

"With China, I'm also thinking about something, because they're sending
fentanyl into our country," he said Thursday, referring to the synthetic
opioid drug.

On the campaign trail he promised tariffs as high as 60 percent, but then
said on taking office on January 20 that he was considering a level of 10
percent.

Then last week he said he would "rather not," if possible.


     

 

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