U.S. Tariffs on Mexico and Canada: Trump's Next Move

U.S. Commerce Secretary Howard Lutnick announced tariffs on Canada and Mexico will proceed Tuesday, with President Trump setting the final levels. Trump intends to impose 25% tariffs; however, the exact rates are under consideration. Additionally, tariffs on China may increase unless it curtails fentanyl trafficking.

U.S. Commerce Secretary Howard Lutnick confirmed in a Sunday interview that tariffs on Canada and Mexico are set to take effect on Tuesday as planned. The specific levels of these tariffs will be determined by President Donald Trump.

Trump has indicated a 25% tariff imposition on these countries, though the final figures remain under review. Lutnick highlighted that the situation is fluid, with negotiations ongoing to decide the exact tariff levels.

Moreover, Trump may increase tariffs on China from 10% to 20% unless it halts fentanyl trafficking into the U.S., according to Lutnick.

(With inputs from agencies.)