• 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

DHS scorches Pritzker’s ‘sanctuary’ state after child rapist...

May 1, 2026

Socialist mayor’s blunt 1-word message to fleeing millionaires...

May 1, 2026

DC police captain cites bodycam footage of officers...

May 1, 2026

Amazon explores ‘The Apprentice’ reboot with Trump Jr...

May 1, 2026

MN governor race to replace Walz sees major...

May 1, 2026

Trump’s apocalyptic Iran warning raises stakes for sweeping...

April 7, 2026

Graham eyes ‘down payment’ on Trump-backed SAVE Act...

April 7, 2026

Democrat whose parents fled Iran moves to oust...

April 7, 2026

Midterm alarm bells: Democrats face steep favorability deficit...

April 7, 2026

American journalist kidnapped in Iraq is set free,...

April 7, 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

  • Top-rated AI stocks for April 2026: 3 picks analysts refuse to ignore

    April 5, 2026
  • Republicans weigh in on what they hope and expect to hear in Trump’s RNC speech: ‘This is his moment’

    July 18, 2024
  • Trump makes endorsement in ‘important’ Wisconsin Supreme Court race

    March 23, 2025
  • Apple crushes Wall Street expectations as iPhone sales soar

    August 1, 2025
  • Pro-Harris super PAC warns against messaging that focuses too much on ‘Trump fascist’ label

    October 28, 2024

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

    CoreWeave eyes $1.5B bond raise to ease debt load following lacklustre IPO: report

    May 9, 2025
  • 5

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024

Categories

  • Economy (829)
  • Editor's Pick (8,507)
  • Investing (2,491)
  • Stock (1,028)

Latest Posts

  • Polish conservative Karol Nawrocki wins presidential election to succeed Duda

    June 2, 2025
  • Trump rattles off ‘flagrant scams’ uncovered by DOGE, takes aim at Fort Knox in CPAC speech

    February 23, 2025
  • Haley urges her convention delegates to support Trump: ‘Republican unity’

    July 10, 2024

Recent Posts

  • Trump admin aims for killing blow to independence of ‘Deep State’ agencies

    February 17, 2025
  • Wells Fargo reduces price target on Dell to $150: Time to hold or sell?

    August 14, 2024
  • Garth Brooks, Trisha Yearwood’s friendship with President Carter spanned years: ‘They’ve inspired us’

    January 10, 2025

Editor’s Pick

  • North Korea slams Rubio’s ‘rogue state’ label as ‘nonsense,’ vows to push back against Trump administration

    February 3, 2025
  • Trump signals willingness to defend Diego Garcia military base if future deal threatens US access

    February 6, 2026
  • Rep Moulton says fellow Dems ‘privately’ agree with his criticism of party

    November 15, 2024
  • 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