Momentum is growing among President Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.
Trump has shown a willingness to move swiftly on tariffs in recent days without allowing for drawn-out talks. On Sunday, Trump announced—and then backed off—a threat to impose 25% tariffs on Colombia, citing its initial refusal to accept repatriation flights from the U.S. A senior administration official said the decision, despite the pullback, proves that Trump views tariffs as an “effective negotiating tool” and “effective punishment” for nations that don’t hew to his agenda.
