US President Donald Trump reiterates threat to impose tariffs on Canada and Mexico

United States (US) President Donald Trump took to social media late Thursday to make a fresh tariff threat against Canada and Mexico. According to President Trump's social media post, the US is set to impose a flat 25% import tax "because of fentanyl" on all goods crossing the border into the US from Canada or Mexico. President Trump also lumped renewed threats of tariffs against China in his afternoon posting tirade, and announced that specific moves on Crude Oil market restrictions could be in the pipe.

Key highlights

I'm to announce Canada and Mexico tariffs because of fentanyl.

25% tariffs on Canada and Mexico.

The first Canada and Mexico tariffs are coming Saturday.

I'm making a determination on oil tonight.

We have all the lumber we need.

Trump: China's going to end up paying a tariff as well.

We're in the process of doing a China tariff.