The president of the United States, Donald Trump, says that he will decide Thursday night if oil will be an objective of strong tariffs that threatens to impose Canadian goods.
Speaking to journalists in the Oval office on Thursday, Trump suggested that he intends to move forward with his plan to hit Canada and Mexico with 25 percent paralyzing tariffs on the goods from those countries.
“These tariffs may or may not increase with time,” Trump said.
When asked if tariffs would include oil exports, the president said he would probably decide later on Thursday night.
During a press conference at the Oval office on Thursday, the president of the United States, Donald Trump, told reporters that Canada and Mexico will face tariffs on February 1. Trump said “probably” will determine on Thursday night if there will be tariffs on oil.
“We are going to make that determination probably tonight in oil,” Trump said. “Because they send us oil. We will see, it depends on what its price is.”
Canada are the Americans’ Number one source of oil imports. Sixty percent of American crude oil imports were obtained from Canada in 2022, while Mexico was the following most valuable supplier in the United States, which represents only 10 percent of those imports compared.
Trump could be on tiptoe around the oil problem due to some of his campaign messages. He repeatedly promised to reduce the cost of living and also promoted his approval of the Keystone XL pipe, which would have brought Alberta oil to Nebraska, during his first administration.
But federal data suggests that a 25 percent rate on Canadian oil could cause the pump price to increase $ 0.75 per gallon during the night.
Trump has moved from side to side by declaring his reasoning to slapped tariffs in Canada. While initially he indicated that rates should be collected to stimulate the Canadian government to improve border security, the president has also complained about commercial deficits.
“Mexico and Canada have never been good with us in commerce. They have treated us very unfairly in commerce and we can invent that very fast because we do not need the products they have. We have all the oil. What do you need, we have all the trees you need , which means wood.
The United States government Own data It suggests that the trade deficit trade with Canada was $ 55 billion in the US. UU. As November 2024. But Canadian officials have argued that when oil exports are excluded, Americans actually have a commercial commercial surplus With Canada.
Trump also reiterated on Thursday his frequent complaint that migrants and drugs are entering the United States from Canada. Customs figures and border protection of the United States show that the agency seized only 19.5 kilograms of fentanyl on the northern border last year compared to the a whopping of 9,570 kilograms in the southwest.
The nominee was asked of the Secretary of Commerce Howard Lutnick about the possible impacts of tariffs at an audience on Wednesday. Lutnick, who seemed to suggest that tariffs could come in phases, said border problems with Canada and Mexico as a “short term” problem. Lutnick cited both fentanyl and undocumented migrants and areas of concern for the Trump administration, but did not provide details about his statements beyond asking for the end of the Fentanyl movement to the United States.
Howard Lutnick, who Trump took the opportunity to be his secretary of Commerce, said Wednesday that the tariff date of February 1 was destined to stimulate Canada and Mexico to take measures at the borders. But he said that other rates could still be labeled later this spring.
“This is a separate rate to create Mexico’s action and Canada’s action [on the border] And as far as I know, they are acting quickly and if they execute it, there will be no rate, “he said.
Experts have said that only a 10 percent tax would shave billions of dollars in GDP and potentially immerse the country in a painful recession that requires that the government stimulus support the economy.
The Minister of Foreign Affairs, Mélanie Joly, and Public Security Minister David McGuinty are in Washington this week defending to impose rates and have indicated recent measures that Ottawa has taken on border security.
Joly told reporters on Wednesday that he believes that the Canada Border Plan is resonating after it was presented to the Secretary of State of the United States, Marco Rubio and Kevin Cramer, North Dakota’s senator and co -president of the Caucus de Economics and American-Canadia security.
Katie Simpson de CBC asked the Minister of Foreign Affairs, Mélanie Joly, if the United States Secretary of State, Marco Rubio, gave definitive information about whether the tariffs will be imposed from Saturday. Joly responded by saying that the best decision maker is the president of the United States, Donald Trump, and that he will stay in Washington until Friday to continue meeting with officials.
“At RCMP level, at CBSA level, we are making contacts to clearly show what we are doing,” he said during a press conference.
“The Secretary of State understands the relationship between trade and geopolitics. It is important that we work together and that we are not divided into a world where there is so much geopolitical competence, particularly when it comes to China.”
McGuinty said the federal government will launch this week a new regulatory process to increase the control and supervision of precursor chemicals in Canada, which are used to produce synthetic opioids such as fentanyl. He also said that the Government is currently negotiating with the US authorities to defend a joint force of Fentanyl strike of North America aimed at organized crime, including posters.
“We had a very strong border. We have an even stronger border today … and I am quite convinced that the evidence presented to the [Trump] The administration will break, “he said Wednesday.
McGuinty is expected to meet Trump’s border tsar, Tom Homan on Friday.