On Sunday, U.S. Commerce Secretary Howard Lutnick announced that tariffs on Canada and Mexico will be implemented on Tuesday, with President Donald Trump having the final say on maintaining the proposed 25% rate. Referring to the situation as "fluid," Lutnick shared this information during the Fox News program "Sunday Morning Futures."
Lutnick highlighted that while tariffs are imminent for Mexico and Canada, the specific details will be subject to negotiation by the president and his team. This represents the first sign from the Trump administration that the full 25% tariffs initially threatened may not be imposed on all goods from Mexico and non-energy imports from Canada.
Acknowledging the efforts of both countries in securing their borders with the U.S., Lutnick noted that despite these efforts, the dangerous drug fentanyl continues to enter the country.
President Trump previously caused confusion by referencing an April 2 deadline in relation to tariffs on Canada and Mexico, only to reconfirm the Tuesday deadline and announce an additional 10% tariff on Chinese goods, effectively doubling the 10% duties imposed on February 4th.
Lutnick stated that unless China ceases fentanyl trafficking into the U.S., President Trump is likely to proceed with raising tariffs on Chinese goods on Tuesday.