Quotes
Canada and Mexico stand to lose 3.6 percent and two percent of real GDP respectively, while the U.S. would suffer a 0.3 percent real GDP loss,
he added
Tariffs on any country that imports cars or car parts are likely to raise the costs of buying and/or repairing cars,
LendingTree writer and licensed insurance expert Rob Bhatt previously told Newsweek
We're thinking in terms of 25 percent [tariffs] on Mexico and Canada because they're allowing vast numbers of people—Canada's a very bad abuser also—vast numbers of people to come in, and fentanyl to come in."
President Donald Trump told reporters last week.jpg)
But these tariffs don't do that. In fact they hurt American manufacturers by raising the costs on raw materials. Let's try again."
Anthony Scaramucci, former White House communications director during Trump's first term who is now a Trump critic, wrote on X, formerly Twitter, on Friday morning
If there are U.S. tariffs, Mexico would also raise tariffs,
Sheinbaum said last week
We may or may not. We're going to make that determination probably tonight—on oil."
However, he later addedWe will always defend the dignity of our people, respect for our sovereignty, and a dialogue as equals without subordination."
Mexican President Claudia Sheinbaum said FridayPresident Trump's tariffs will tax America first. From higher costs at the pumps, grocery stores, and online checkout, tariffs cascade through the economy and end up hurting consumers and businesses on both sides of the border."
Matthew Holmes, public policy chief at the Canadian Chamber of Commerce, warnedWe don’t think [the tariffs] will happen. And if they do, we have our plan,
Sheinbaum said on Wednesday
The reality is that a large, uncontrolled bully is using his position as the most powerful political leader in the world, to put pressure on a whole range of allies,
said Lawrence Herman, an international trade lawyer and senior fellow at the CD Howe InstituteWe don’t have a lot of good historical examples where we’ve had tariff shocks of this magnitude,
Tiff Macklem, Bank of Canada governor, told reporters earlier this weekPeople are worried here, and there is a sense of uncertainty – which is what Donald Trump seeks to create,
said Kenneth Smith Ramos, Mexico’s former chief negotiator during talks over the USMCA free trade deal, struck between the US, Mexico and Canada during the first Trump administrationRepairing the long-standing relationship will be very, very difficult. It will depend on good will on the US side and Trump has dissipated most of that good will,
he saidPresident Trump has a great new tax cut, the largest in history, and tariffs can easily pay for that,
Navarro said on CNBC
President Trump’s tariffs will tax America first,
said Matthew Holmes, public policy chief at the Canadian Chamber of CommerceIf they keep threatening and then don't put them in place, they’re going to lose credibility,
the executive saidThe inclusion of Canada oil in a 25 percent tariff on Canada and Mexico would likely initially raise gasoline prices in the U.S. Midwest."
Analysts from Goldman Sachs, including Daan Struyven, wrote in a note, as quoted by The Financial PostEven very high tariffs could only replace a minority of the revenue raised by income taxation, and such high tariffs would cripple the economy."
Kimberly Clausing, an economist and a professor at the UCLA School of Law, previously told NewsweekOil is going to have nothing to do with it as far as I'm concerned,
he said
I'll be putting the tariff of 25% on Canada and separately 25% on Mexico, and we'll really have to do that because we have very big deficits with those countries,
he added