Despite sharing a free-trade pact he negotiated with Canada and Mexico in his first term in office, Trump on Saturday imposed 25% tariffs on the two countries set to take effect Tuesday, and hit China with a new 10% levy in addition to already enacted tariffs.
Trump claimed the three countries were not doing enough to halt illegal immigration and the deadly opioid fentanyl from entering the United States.
In Truth Social posts early Sunday, Trump acknowledged American consumers could face higher prices because of the tariffs. U.S. companies that pay the tariffs to the federal government to import goods from other countries then often pass on at least part, if not all, of their higher costs to consumers rather than absorb their extra expenses themselves.
But Trump aimed most of his comments at Canada, targeting one of the U.S.’s closest allies. The U.S. Census Bureau said the U.S. had a $55 billion trade deficit with Canada last year.
“Why? There is no reason,” Trump contended. “We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use.”
“Without this massive subsidy, Canada ceases to exist as a viable Country. Harsh but true! Therefore, Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada — AND NO TARIFFS!” Trump said.
