Trump weighs imposing 25% tariffs on Canadian and Mexican oil

U.S. President Donald Trump said Thursday that he would likely make a decision within several hours on whether to impose a 25% tariff on oil imports from Canada and Mexico, with the tariff potentially taking effect as soon as February 1.

“We may or may not. We’re going to make that determination probably tonight,” Trump told reporters at the White House.

Trump has issued repeated warnings to Mexico and Canada, two of the U.S.’s largest trading partners, threatening tariffs unless the countries take action to stop fentanyl shipments and curb migrant flows into the U.S.

He has framed the tariff threat as part of his broader efforts to tackle these issues.

This latest development underscores ongoing trade tensions between the U.S. and its neighbors, with issues surrounding drugs, immigration, and trade continuing to dominate discussions.