U.S. President Donald Trump said he will go ahead with imposing 25 percent tariffs on Canada and Mexico on Feb. 1, adding that the tariffs could rise over time. He also said that oil may be exempted from the tariffs, and the decision on that could be coming soon.
“I'll be putting the tariff of 25 percent on Canada, and separately, 25 percent on Mexico, and we will really have to do that, because we have very big deficits with those countries,” Trump told reporters at the White House on Jan. 30.
