White House confirms tariffs on Canadian, Chinese, Mexican imports taking effect Saturday

SUMMARY
President Trump is set to implement significant tariffs on Saturday, February 1st, 2025. These include a 25% toll on imports from Canada and Mexico, and 10% on Chinese products. The tariffs are in response to the ongoing fentanyl crisis, with fentanyl smuggled primarily from China being linked to over 281,000 deaths in the past four years. White House press secretary Karoline Leavitt confirmed the move during a White House press briefing today, stating; “The president will be implementing tomorrow 25% tariffs on Mexico, 25% tariffs on Canada, and a 10% tariff on China for the illegal fentanyl that they have sourced and allowed to distribute into our country.” While the tariffs are expected to go into effect, exceptions may be considered, as Trump suggested a potential carveout for oil. The decision follows threats made by Trump in November, which were initially seen as a bargaining tactic by some countries, but now seem very real.