After a series of threats in which he warned Mexico, Canada and China to expect tariffs on exported goods, President Donald Trump is moving forward with his plan and implementing the levies effective February 1, the White House said on Jan. 31.
"I can confirm that, tomorrow, the February 1 deadline President Trump put into place with a statement several weeks ago continues," White House press secretary Karoline Leavitt said.
Leavitt said the tariffs would amount to a 25% duty on Mexico and Canada while a 10% tariff would be applied on China "for illegal fentanyl they have sourced and allowed to distribute into our country."
The White House press secretary declined to offer additional details on the tariffs that will be enforced starting on February 1, including whether they will be applied to oil imports or whether additional exemptions will be included.
"The president has also put out specific statements in terms of Canada and Mexico, when it comes to what he expects in terms of border security,' Leavitt said. "We have seen a historic level of cooperation from Mexico. But again, as far as I'm still tracking, and that was last night talking to the president directly, Feb. 1 is still on the books."
Despite the Trump administration warning for months of the potential tariffs, no information has been provided on precisely how they will be implemented, only saying that the fine print would be available for public inspection within the next 24 hours.
Earlier this week, President Trump dismissed the idea that American consumers were reliant on import from Mexico and Canada. "We don't need what they have," he said.
However, experts and economists argue that the new tariffs could cause inflation. As reported by CNN, research from the Peterson Institute for International Economics suggests Trump's decision will eventually force American consumers to pay more for practically everything.
The report estimates that Trump's proposed tariffs would cost the typical U.S. household over $2,600 a year.
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