In a recent interview, President Donald Trump indicated that tariffs on Canada and Mexico could potentially increase in the future. This statement follows his temporary suspension of certain high tariffs imposed earlier this week, which had reached as much as 25 percent and had unsettled markets. The reprieve, effective until April 2, pertains to imports associated with the United States-Mexico-Canada Agreement, which Trump signed during his first term. During the Fox Business interview, when asked about future clarity on his trade policies, Trump acknowledged the possibility of rising tariffs over time.
Trump expressed uncertainty about the predictability of his trade policies, but reiterated his intention to impose reciprocal tariffs starting April 2, stating, “What they charge us, we charge them. It’s a big deal.” In a separate CNBC interview, White House senior counselor Peter Navarro dismissed concerns about uncertainty in Trump’s trade policies, attributing it to people not believing the president. He described the situation with Canada and Mexico as a negotiation in which the U.S. is “winning.” Additionally, Trump announced increased tariffs on Chinese goods, raising them from 10 percent to 20 percent due to China’s alleged involvement in the fentanyl trade, adding to existing tariffs on Chinese imports.