On February 24th local time, US President Trump stated that he will impose tariffs on Mexico and Canada "on time". According to previous decisions, the relevant tariff measures will take effect on March 4th, with only one week left.

Trump held a joint press conference with visiting French President Macron at the White House that day. When asked about the upcoming deadline for the US to impose tariffs on Mexico and Canada next month, Trump said that the tariffs are being pushed forward as planned and progress seems to be "very fast".

Trump also stated in his response that he is advancing the so-called reciprocal tariff plan.

Related reports indicate that the US government's tariff threat has raised concerns among American businesses and consumers about economic slowdown and accelerated inflation. Most economists suggest that the cost of tariffs may be primarily borne by consumers, retailers, and manufacturers.

The United States launches a tariff war against Mexico and Canada

On February 1st, Trump signed an executive order imposing a 25% tariff on products imported from Mexico and Canada, with a 10% increase on Canadian energy products.

On February 3rd, Trump announced a 30 day suspension of tariffs on both countries and continued negotiations.

Canada: Ready to go

After the United States announced taxes on Canada, Canadian Prime Minister Trudeau said on social media that Canada is ready.

Trudeau said that as retaliation for US tariffs, Canada will impose a 25% tariff on $155 billion worth of US products. The $30 billion worth of goods will take effect on February 4th, and the $125 billion worth of goods will take effect within 21 days.

Trudeau also stated that Canada is considering several non-tariff measures, including those involving key minerals, energy procurement, and other partners.

Mexico: Countermeasures

Regarding the US imposition of tariffs, Mexican President Simbaum stated that Mexico will take countermeasures. She has instructed Mexican Economy Minister Ebrard to use the "Plan B" previously prepared by the Mexican government to impose tariffs on US Mexico products.

When we negotiate with other countries, when we interact with other countries, we always hold our heads high and never bow our heads. We are equal. Simbaum emphasized that Mexico is a free, independent, and autonomous country. The Mexican side has the ability to respond to any situation.