On Thursday, President Donald Trump posted on Truth Social, stated that the upcoming tariff on Mexico and Canada will go into effect on March 4, with an announcement of additional 10% tariffs on Chinese imports.
Trump’s 25% levy on Canada and Mexico was originally scheduled for February 3, but has been paused after both countries agree to enhance border security.
The president claimed that drugs are still entering the U.S. at highly unacceptable levels, most of which are fentanyl that were allegedly supplied by China.
Trump also announced an additional 10% duty on China on top of the existing 10% levy, thus bringing tariffs on Chinese products up to 20%.
In the same post, Trump also affirmed that the reciprocal tariff on April 2 will remain in full effect.
However, Trump’s post on Truth Social contradicted Kevin Hassett, Director of White House National Economic Council, laid out a timeline to CNBC around an hour earlier.
The timeline, citing Trump’s remark during his first cabinet meeting on Wednesday, said that the president would make a decision on tariffs after evaluating a study that was set to come out on April 1.
