Canada could face 25 per cent tariffs from the United States as early as Feb. 1, according to U.S. President Donald Trump.
He made the comments on Monday evening, just hours after his inauguration as the 47th president of the United States.
“We’re thinking in terms of 25 per cent on Mexico and Canada because they’re allowing vast numbers of people … and fentanyl to come in,” Trump said while signing executive orders.
“I think we’ll do it February 1st,” he said when asked by a reporter about when it could happen.
Media reports earlier in the day said that Trump would not bring in tariffs on goods from Canada on his first day in office.
The Wall Street Journal reported a memo the president planned to sign called for evaluating the U.S.’s trade relationships, but stopped short of adding new taxes.
Canadian officials have been preparing to retaliate and fight back in a potential trade war with the U.S. as Trump threatened tariffs in the weeks leading up to his swearing in.
In a post on X, Prime Minister Justin Trudeau sent his congratulations to the new president.
“Canada and the U.S. have the world’s most successful economic partnership. We have the chance to work together again — to create more jobs and prosperity for both our nations.” Trudeau said.
Meanwhile, the 78-year-old Trump has become just the second president to serve non-consecutive terms.
“The golden age of America begins today. Our country will flourish today onwards.” Trump proclaimed in his opening remarks during the inauguration.
Trump identified lowering inflation and costs, tax cuts for workers and securing the American border as some of his top priorities.
Vice President JD Vance was also sworn in on Monday.
Elon Musk, Meta boss Mark Zuckerberg, Amazon chief Jeff Bezos and Google CEO Sundar Pichai were all in attendance for the inauguration.
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