Trump says 25% tariffs on Mexico and Canada may not include oil: 'Oil is going to have nothing to do with it as far as I’m concerned'

President Donald Trump has confirmed that he will impose 25% tariffs on imports from Mexico and Canada starting on February 1, following through on previous threats. The tariffs will not include oil imports at this time, as the decision will depend on how the two countries “treat us properly” and the pricing of oil. Trump cited reasons for the tariffs including immigration issues, drug smuggling, and trade deficits, stating that the tariffs are necessary due to the large deficits with both countries.

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