U.S. President Donald Trump said he would likely decide by the end of the day Thursday whether to put a 25 per cent tariff on Canadian oil imports that would take effect on Saturday.
“We may or may not. We’re going to make that determination probably tonight on oil,” Trump told reporters at the White House.
“We’ll see. It depends on what the price is. If the oil is properly priced, if they treat us properly – which they don’t.”
That comment came moments after he said “oil is going to have nothing to do with it as far as I’m concerned” when asked if energy imports from Canada will be exempt from 25 per cent tariffs he plans to impose on all goods from Canada and Mexico.
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Trump has repeatedly warned Mexico and Canada – two of the United States’ top trading partners – he will impose tariffs if the two countries do not end shipments of fentanyl and the flow of migrants across U.S. borders.
“We’ll be announcing the tariffs on Canada and Mexico for a number of reasons,” Trump said.
“Number one is the people that have poured into our country — so horrible and so much — number two are the drugs, fentanyl and everything else that have come into the country. Number three are the massive subsidies that we’re giving to Canada and to Mexico in the form of deficits. And I’ll be putting the tariff of 25 per cent on Canada and separately 25 per cent on Mexico. And we will really have to do that because we have very big deficits with those countries.
“Those tariffs may or may not raise with time,” Trump added.
The office of Canadian Prime Minister Justin Trudeau was not immediately available for comment. Mexico’s economy ministry did not immediately respond to a request for comment.
More to come…
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