US President Donald Trump has confirmed that his government will go ahead with 25% tariffs on imports from Canada and Mexico. These two countries are the biggest trading partners of the United States. The tariffs will be imposed starting next month as planned.

Trump made this announcement during a press conference with French President Emmanuel Macron, who is currently visiting the US. Speaking to reporters, Trump said, “We’re on time with the tariffs, and it seems like that’s moving along very rapidly.” "Many countries, not just Canada and Mexico, have mistreated us and taken advantage of us," he continued.

Tariffs set to start in March

Trump had earlier planned to impose these tariffs in February but had given both countries a one-month suspension until March 4. Now, he has confirmed that the tariffs will go into effect as planned.

“Tariffs are going forward on time and on schedule,” Trump said.

The decision comes even as Canada and Mexico have increased security at their borders. According to news agency Reuters, the tariffs may increase inflation and negatively impact the economy of North America.

Trump believes that the US has been at a disadvantage in global trade because other countries impose heavy duties on American goods. He called this an “abuse” but said he does not blame those countries, but rather the US leadership that allowed it to happen.

“Tariffs will go forward. Yes, we will make up a lot of territory. All we want is reciprocity; we want reciprocity. So if someone charges us, we charge them. It is basic. It will be excellent for our country. Our country will be extremely liquid and rich again,” he stated.

Mexico hopes to avoid tariffs

Even though Trump is firm on his decision, Mexican President Claudia Sheinbaum Pardo still hopes that Mexico can make an agreement with the US before March 4. She said that if needed, she is willing to talk to Trump directly.

 “We would need to be reaching important agreements this Friday… On all of the issues, there is communication, and what we need is to complete this agreement. I believe we’re in a place to do it,” she said, according to the Associated Press (AP).

Trump’s tariff plan also includes measures to address illegal immigration and the smuggling of fentanyl. His administration has already imposed a 10% duty on all Chinese imports and is now increasing tariffs on steel and aluminium to 25%. These new tariffs, which include hundreds of steel products, will take effect on March 12, a week after the border tariffs.

Trump has also accused India of imposing high tariffs and has hinted at imposing similar reciprocal tariffs on Indian imports in the future.

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