Canada relieved Trump doesnt impose tariffs on first day, but he later says they could hit Feb. 1 WSOC TV [Video]

TORONTO — (AP) — Canadian leaders expressed relief Monday that broad tariffs were not applied to Canadian products on the first day of Donald Trump’s presidency, but Trump later said he could impose a 25% tariff on Canada and Mexico on Feb. 1.

Trump has been threatening to impose sweeping tariffs on Canada, Mexico and other trading partners. An incoming White House official who insisted on anonymity pointed reporters on Monday morning to a Wall Street Journal story saying Trump will only sign a memorandum telling federal agencies to study trade issues.

Still, Trump pledged in his inaugural address that tariffs would be coming and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers.

“We’re thinking in terms of 25% on Mexico and Canada,” Trump said Monday night in the Oval Office. “I think February 1st.”

Finance Minister Dominic LeBlanc earlier said reprieve is too strong …