Trump says ‘no room left for delay’ as 25% tariffs on Canada, Mexico come into effect from today

US President Donald Trump on Monday dashed the hopes of an agreement of not imposing tariff on Canada and Mexico and said that 25% tariff on goods coming from Mexico and Canada will be effective from Tuesday. After this statement of Trump, the possibility of trade war has increased. Trump said that there is no scope left for both the countries to avoid the new tariff.

After this statement of his, there has been a decline in the US stock markets.

In February, Trump had decided to impose tariff on imports from major trading partners Canada and Mexico. However, it was later stopped. This ban is ending on Tuesday. Trump had accused both the countries of failing to stop illegal immigration and drug trafficking.

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Donald Trump told the media on Monday that he is fully prepared to impose tariffs of up to 25 percent on Canada and Mexico. He said, "There is no scope left for Mexico or Canada. The tariffs are fully prepared and are going to be effective from Tuesday."

Order to increase tariffs on China

US President said, "They will have to set up their car plants and make other things in the United States, in that case they will not have any tariffs."

Donald Trump has also increased tariffs on China. The White House said that Trump has ordered to increase the 10 percent tariff imposed earlier on China to 20 percent.

Tariffs on imported agricultural products from April 2

Along with this, US President Donald Trump announced on social media that tariffs on imported agricultural products will be implemented from April 2. Along with this, he has also asked American farmers to prepare for bumper agricultural production.

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Trump posted on x, "To the great farmers of the United States: Get ready to start making lots of agricultural products to be sold. Tariffs on foreign products go into effect on April 2. Enjoy!"

Supply chain disruption expected

Tariffs on Canada and Mexico could disrupt supply chains in key sectors such as automobiles and construction materials, threatening to increase prices. Trump had promised to reduce domestic costs during his campaign, which could be affected due to this decision.

Former US trade official Ryan Majerus said Washington is trying to rebalance trade relations but using emergency economic powers to impose tariffs on Canada, Mexico and China is new.

Thousands of jobs at stake in Canada: Jolie

Thousands of jobs in Canada are at stake," Canadian Foreign Minister Melanie Jolie said in Ottawa after Trump confirmed the imposition of tariffs on Tuesday. Melanie also said, "This is an existential threat on us".

He said Canadian officials had engaged in "constructive discussions" with the Trump administration to avert the 25 percent tariffs, warning that if they proceed, "we are prepared for retaliatory tariffs."