U.S. Tariff Plans: Impact on Canada, Mexico, and China

U.S. Commerce Secretary Howard Lutnick announced impending tariffs on Canada and Mexico, set by President Trump, amidst ongoing negotiations. The tariffs, speculated to begin Tuesday, await final numbers from the president. Simultaneously, tariffs on China may rise unless fentanyl trafficking ceases.

U.S. Commerce Secretary Howard Lutnick confirmed that tariffs on Canada and Mexico are set to commence on Tuesday as planned, with the precise levels to be decided by President Donald Trump.

The President has proposed a 25% tariff on these nations, effective March 4. 'He's kind of contemplating how he wants to strategize with Mexico and Canada, and it's currently a dynamic situation. There will be tariffs next Tuesday, but the exact amounts are to be determined by the President and his team,' Lutnick stated on Fox News' 'Sunday Morning Futures.'

Lutnick acknowledged the efforts by these countries in securing their borders with the U.S., although fentanyl continues to flow in. In addition, Trump is considering raising tariffs on China, from 10% to 20%, pending the end of fentanyl trafficking into America.

(With inputs from agencies.)