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Trump Says ‘No Room Left’ for Canada, Mexico to Duck Tariffs: Full Remarks From The White House
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March 3, 2025
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27:50Now PlayingPresident Donald Trump said he would plow ahead with new tariffs on Canada and Mexico starting Tuesday, a broadside against the two biggest US trading partners that underscores his push to remake global trade.
“No room left for Mexico or for Canada,” Trump told reporters Monday when asked if the US’s North American neighbors could reach a deal to put off the duties, as they did a month ago. “They’re all set. They go into effect tomorrow.”
The White House later said Trump also signed an order doubling a tariff on China to 20% that will take effect shortly after midnight in Washington. The directive said Beijing had “not taken adequate steps” to address the flow of illicit fentanyl into the US.
Trump’s comments accelerated a selloff in US stocks, with the Dow Jones Industrial Average and S&P 500 down roughly 2% on the day. The remarks doused hopes of avoiding an all-out continental trade war; Canada is preparing its own retaliatory tariffs, and Trump has another round of levies set to kick in next week on steel and aluminum.
Trump spoke about tariffs and also said he doesn't think striking a minerals deal with Ukraine is dead despite his public feud with Ukrainian President Volodymyr Zelenskiy.
He spoke to reporters after revealing a $100 billion investment in US plants by chip giant TSMC. He was joined by Commerce Secretary Howard Lutnick and TSMC CEO C.C. Wei.
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