Trump puts Europe in crosshairs as he stands firm on tariffs for Mexico, Canada

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He also brushed away the notion his threats for levies were a bargaining tool. “No, it’s not … we have big [trade] deficits with, as you know, with all three of them,” he said.

“It’s something we’re doing, and we’ll possibly very substantially increase it, or not, we’ll see how it is,” Trump said. “But it’s a lot of money coming to the United States.

“We’re going to be putting tariffs on steel and aluminum, and ultimately copper. Copper will take a little longer.”

Financial markets have been whipsawed by the rapid-fire but still not fully clear developments on Trump’s tariff plans, with currency trading showing particular volatility.

The Canadian dollar and Mexican peso both weakened while Treasury bond yields rose, and stocks ended the day lower.

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Still, Trump said he was not concerned about the reaction of financial markets to his plans to impose tariffs.

A White House spokesperson said there would be no delay in the implementation.

“The president will be implementing tomorrow 25 per cent tariffs on Mexico, 25 per cent tariffs on Canada, and a 10 per cent tariff on China for the illegal fentanyl that they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans,” White House press secretary Karoline Leavitt said.

Reuters

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