Donald Trump’s advisers are reportedly trying to find other solutions to keep the administration from enacting sweeping tariffs on Mexico and Canada despite the president reiterating his intent to enact them.
On Thursday, Trump affirmed to reporters he was “in the process” of enacting tariffs on the United States’s neighbors to the north and south by Saturday. He’s repeatedly said the U.S. would place a 25 percent tariff on Canada and Mexico, which could have major impacts on the economies’ of the three nations.
The reality is less concrete, according to The Wall Street Journal, as members of the administration hope to find more targeted measures rather than sweeping tariffs.
Those measures could mean a specific tariff on steel and aluminum – similar to those Trump enacted during his first term – or exclude oil.
“We’re going to make that determination probably tonight on oil. Because they send us oil, we’ll see – it depends on what their price is,” Trump said Thursday.
A final decision has not been made, sources said.
Trump could announce new tariffs by Saturday but offer a waiting period before they are implemented to allow for further negotiations.
He’s claimed the tariffs are necessary to incentivize Canada and Mexico to enact stricter border policies to stop the flow of drugs, particularly fentanyl, into the U.S. The president has also said it would balance the trade partnership with both countries, which he believes disadvantages the U.S.
Both countries said they would respond with their own measures
Mexico President Claudia Sheinbaum has remained cool-headed about the potential of tariffs in addition – that’s in addition to the immigration restrictions Trump has placed at the U.S.–Mexico border.
“If there are U.S. tariffs, Mexico would also raise tariffs,” Sheinbaum said last week,
Meanwhile, the proponent of sweeping tariffs has caused political turmoil in Canada where economic concerns have created a cost of living crisis for millions.