U.S. President Donald Trump said his 25% tariff on imports from Canada and Mexico and an additional 10% tariff on imports from China will take effect as scheduled on March 4 unless imports of drugs, including fentanyl, are stopped or "severely restricted."
"Drugs are still pouring into our country from Mexico and Canada at very high and unacceptable levels," Trump wrote in a TRUTH social post, without elaborating on the source of his information. "A large portion of these drugs are manufactured and supplied by China, and most of them are fentanyl."
Earlier this month, the U.S. president agreed to suspend tariffs on Canada and Mexico for a month, but new posts suggest the Trump administration is preparing for the expiration of those agreements. He added that April 2 is another deadline for reciprocal tariffs on U.S. imports. Later tariffs could include a 25% tax on computer chips.
While many companies have remained silent on the impact of the tariffs, others have warned consumers that prices will rise. Acer, for example, said a 10% import tariff would cause the price of its laptops to rise by 10%. Carmakers are also bracing for what analysts say will have a huge impact on the industry and could result in fewer offers and purchase incentives.