EUR/USD likely to find a peak near 1.25: UBS
Investing.com-- U.S. President Donald Trump is still expected to impose 25% trade tariffs on Canada and Mexico by February 1, White House Press Secretary Karoline Leavitt said in a briefing on Tuesday.
Trump is also still considering fresh tariffs on China, which he could impose on Saturday. The President had threatened to slap China with 10% tariffs, while Canada and Mexico will be subject to a 25% duty.
“The February 1 date for Canada and Mexico still holds,” Leavitt said in her first press briefing in her new role. “The President has said that he is very much still considering (China tariffs) on Feb 1.”
“As far as I’m still tracking, and that was last night talking to the president directly, Feb. 1 is still on the books,” Leavitt told reporters.
Trump had cited concerns over the flow of illegal immigrants and narcotics, specifically fentanyl, as his reasoning behind the tariffs. Tariffs against China were also over the country’s role in the fentanyl trade, Trump had signaled.
Beyond specific tariffs against China, Canada, and Mexico, Trump had earlier this week signaled that he was seeking universal import tariffs far bigger than a reported 2.5% duty.
On Sunday, Trump threatened to impose a 25% duty on Colombia over Bogota’s refusal to allow a U.S. military plane carrying deported migrants from landing in the country. But Colombian President Gustavo Petro accepted Trump’s terms within hours of the tariff threat.