• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

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

by January 31, 2025
written by January 31, 2025

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 comment
0
FacebookTwitterPinterestEmail

previous post
Trump White House demands apology after Jeffries calls for Dems to fight president’s agenda ‘in the streets’
next post
Since taking office, what are the legal challenges launched against the Trump admin?

related articles

Turkey’s growing reach in Africa seen complicating US...

February 22, 2026

WATCH: Top 5 most memorable moments in American...

February 22, 2026

DHS suspends TSA PreCheck, Global Entry as partial...

February 22, 2026

Why a credit freeze isn’t the end of...

February 21, 2026

Trump torches ‘stupid’ AOC’s Munich showing, tees up...

February 21, 2026

DAVID MARCUS: To burnish Trump’s legacy, we need...

February 21, 2026

BROADCAST BIAS: Idea of giving politicians equal time...

February 21, 2026

Israelis keep suitcases packed and ready as Trump...

February 21, 2026

EPA scraps Biden coal restrictions, and advocates say...

February 21, 2026

CIA retracts, revises 19 past intelligence assessments deemed...

February 21, 2026
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Children take over White House briefing room with questions about Trump’s favorite ice cream, superpower

    May 20, 2025
  • Mike Johnson wins Republican support to be House speaker again after Trump endorsement

    November 13, 2024
  • JONATHAN TURLEY: Impeachment obsession returns as Democrats recycle lawfare to fire up their base

    January 7, 2026
  • Nifty and German 40: Nifty is still on the defensive 

    July 25, 2024
  • Appeals court upholds $1 million penalty against Trump over ‘frivolous’ Clinton, Comey lawsuit

    November 26, 2025

Popular Posts

  • 1

    District judges’ orders blocking Trump agenda face hearing in top Senate committee

    April 2, 2025
  • 2

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024

Categories

  • Economy (829)
  • Editor's Pick (8,026)
  • Investing (1,019)
  • Stock (979)

Latest Posts

  • Victims react to new intelligence community report that Havana Syndrome could be caused by a foreign actor

    January 14, 2025
  • USDCAD and USDCNH: The USDCAD is taking a step back

    September 5, 2024
  • Trump says US will ‘take a pass’ on Ukraine peace efforts if Russia refuses to play ball

    April 18, 2025

Recent Posts

  • SCOOP: Blue state Republican could oppose Trump tax bill over Medicaid changes

    June 28, 2025
  • Federal judge blocks Trump’s transgender military executive order

    March 19, 2025
  • TREY GOWDY: China is misjudging Trump on trade. It may soon be very surprised

    October 27, 2025

Editor’s Pick

  • Cruz interrupted by anti-Israel agitator who yelled, ‘F—ing Jews’ during hearing on ‘hate’

    September 18, 2024
  • Silver gains 1.6% as geopolitical tensions intensify over Ukraine-Russia conflict

    August 12, 2024
  • Copper demand to surge 50% by 2040, driven by AI, defense, says S&P

    January 8, 2026
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock