Canada relieved Trump didn't impose tariffs, later says they could hit soon

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Canada relieved Trump didn't impose tariffs, later says they could hit soon - Business Standard

Quick Summary:

Canadian leaders expressed relief Monday that broad tariffs were not applied to Canadian products on the first day of Donald Trump's presidency, but Trump later said he could impose a 25 per cent tariff on Canada and Mexico on February 1.

An incoming White House official who insisted on anonymity pointed reporters on Monday morning to a Wall Street Journal story saying Trump will only sign a memorandum telling federal agencies to study trade issues.

Still, Trump pledged in his inaugural address that tariffs would be coming and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers.