Trump Plans 25% Tariffs on Mexico and Canada, Hints At Leveraging TikTok In Negotiations With China

Benzinga

President Donald Trump announced plans to levy 25% tariffs on Mexico and Canada as early as February 1st, citing border concerns. Trump labeled Canada "a very bad abuser" and tied the proposed tariffs to fentanyl trafficking issues. The tariffs are part of broader efforts to reform U.S. trade policies, including a new External Revenue Service to collect duties. Trump also hinted at using tariffs as leverage in TikTok negotiations with China, contingent on finding a U.S. partner for the app. Stock market futures fell and the dollar weakened following the announcement, while Treasury yields declined.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Donald Trump announced plans to levy 25% tariffs on Mexico and Canada as early as

00:07February 1st, citing border concerns. Trump labeled Canada a very bad abuser and tied

00:11the proposed tariffs to fentanyl trafficking issues. Tariffs are part of a border effort

00:17to reform US trade policies, including a new external revenue services to collect duties.

00:22Trump also hinted at using tariffs as leverage in TikTok negotiations with China,

00:26contingent on finding US partners for that app. Stock market futures fell for the dollar

00:31weekend following the announcement, while treasury yields declined.

00:34For all things money, visit Benzinga.com slash GSTV.

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