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WSJ Opinion: Potomac Watch

Trump Says Canada and Mexico Tariffs Are Coming Soon

WSJ Opinion: Potomac Watch

The Wall Street Journal

Society & Culture, News

42.7K Ratings

🗓️ 26 February 2025

⏱️ 22 minutes

🧾️ Download transcript

Summary

After Donald Trump gave America’s neighbors a 30-day reprieve from his threatened tariffs, he now says they’ll go into effect in a matter of weeks. But a new study of the North American auto industry estimates that those border taxes could add thousands to the price of an SUV, and does Trump have the legal power to impose such tariffs on allies, or could this go to the courts? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

From the opinion pages of the Wall Street Journal, this is Potomac Watch.

0:08.5

President Trump says tariffs on Mexico and Canada are going forward on schedule soon,

0:14.1

but does he mean it this time or is this more negotiating bluster?

0:17.5

As a new study suggests, it could raise the cost of an SUV made in North America

0:22.3

by something like $9,000. Welcome, I'm Kyle Peterson with the Wall Street Journal. We're joined

0:28.4

today by my colleagues, columnist Alicia Finley, and editorial board member Manet Uquay-Brua.

0:35.0

When Donald Trump gave America's neighbors and close trading partners a 30-day trade war

0:40.2

ceasefire three weeks ago, companies and financial markets were breathing aside of relief.

0:45.8

But this week, the president suggested that this leeway is almost up. Listen to this,

0:50.3

taken from a cabinet meeting today. April 2nd, I was going to do it on April 1st,

0:54.6

but I'm a little bit superstitious. I made it in April 2nd. The tariffs go on, not all of them,

1:00.2

but a lot of them. And I think you're going to see something that's going to be amazing. We've

1:04.3

been taking advantage of as a country for a long period of time. We've been we've been tariffed, but we didn't have. Now I did when I was here,

1:12.0

I tariffed. We took in $700 billion from China. 700 billion, not one president in the history

1:19.3

of our country took in 10 cents from China. At the same time, China respected us.

1:24.7

And here the president is making the argument for border taxes on Canada specifically.

1:30.3

If we don't give them cars, we don't have to give them cars.

1:34.3

The tariffs will make it impossible for them to sell cars into the United States.

1:38.3

The tariffs will make it impossible for them to sell lumber or anything else into the United States. And all I'm asking to do

1:46.6

is break even or lose a little bit, but not lose $200 million. And we love Canada. I love Canada.

1:52.5

I love the people of Canada. And but honestly, it's not fair for us to be supporting Canada. And if we

2:00.3

don't support them, they don't subsist as a nation.

...

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