President Donald Trump on Monday confirmed that 25 percent tariffs on Canada and Mexico will take effect on Tuesday.
While taking questions at a press conference announcing a $100 billion investment that Taiwan Semiconductor Manufacturing Co. (TSMC) is making in the United States, Trump reiterated that the tariffs on America’s neighbors would be implemented on Tuesday.
🚨 JUST NOW - TRUMP: "Tomorrow: tariffs, 25% on Canada, 25% on Mexico. That'll start... [companies will] have to build their car plants in the United States. In which case, they have no tariffs." pic.twitter.com/Ok0nm8qV2I
— Eric Daugherty (@EricLDaugh) March 3, 2025
“But very importantly, tomorrow, tariffs: 25 percent on Canada and 25 percent on Mexico,” he said.
Trump pitched car manufacturers in Canada and Mexico on moving to the United States to avoid paying tariffs:
And I would just say this to people in Canada or Mexico, if they’re going to build car plants, the people that are doing them are much better off building here because we have the market. We’re the market where they sell the most, and so I think it’s going to be very exciting, very exciting for the automobile companies.
