Global Daily Tax News, US To Proceed With Taxes On Canadian, Mexican Goods, (Feb 3, 2025)

US President Donald Trump has confirmed the imposition from February 1, 2025, of 25-percent tariffs on Canadian- and Mexican-made goods.

Trump has also indicated that the new Administration intends to, in future, levy 10-percent tariffs on Chinese-made products.

Canadian representatives held last-minute meetings with the Trump Administration, in a bid to dissuade the Government from proceeding with the levies.

Speaking on January 31, Canadian President, Justin Trudeau, said Canada would respond swiftly if the US does choose to levy taxes on Canadian goods, stating: "If the President does choose to implement any tariffs against Canada, we're ready with a response – a purposeful, forceful, but reasonable, immediate response. It's not what we want. But if he moves forward, we will also act."