WASHINGTON – President Donald Trump said Friday he would place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective Saturday, raising the specter of swift price increases for U.S. consumers even though he suggested he would try to blunt the impact on oil imports.
Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl, but he has also pledged to use tariffs to boost domestic manufacturing and raise revenues for the federal government.
“Starting tomorrow, those tariffs will be in place,” White House press secretary Karoline Leavitt told reporters earlier Friday. “These are promises made and promises kept by the president.” Speaking to reporters in the Oval Office later, Trump said there was nothing the three countries could do to prevent the tariffs from going into force Saturday.
The tariffscarry both political …