Chicago – January 31, 2025
President Donald Trump will place new tariffs on imports from Canada and Mexico starting Saturday, following through on a decision he says will push both countries to stop the flow of migrants and fentanyl into the U.S.
At the same time, Trump will add a 10% tariff on goods from China, White House Press Secretary Karoline Leavitt announced Friday. She confirmed that these tariffs will take effect within 24 hours.
“These are promises made and promises kept by the president,” Leavitt said during a press briefing.
Leavitt did not say whether the tariffs will include exceptions for oil imports, though Trump mentioned on Thursday that he was considering it. She also stated that the new China tariff is meant to target illegal fentanyl coming into the country.
Economists warn that tariffs, which are taxes on imported goods, often lead to higher prices for consumers. Trump has promised to fight inflation, but just one week into his second term, he is relying on tariffs—something he also used during his first term—as a key part of his economic and foreign policy strategy. Many are now watching to see how these new tariffs will impact prices and trade.
