President Trump Modifies Tariffs on Products from Mexico and Canada

In order to protect American car manufacturers and American farmers, we have two modifications to the IEPA tariffs that have already been announced against Canada and Mexico. This first order relates to Canada. Essentially, what it will allow for is the flow of parts and sub-assembly products into America to allow American car manufacturers to continue building cars. It basically excludes USMCA-eligible goods from existing tariffs. And also, in order to help our farmers at this crucial time of year, we're going to be reducing the tariff imposed on Canadian Kotash from 25% to 10%. So this is a modification to our tariff regime to protect American car manufacturers and American farmers. It basically makes it more fair for our car manufacturers during the short-term period before April 2nd. April 2nd is a little bit different. That will be much more significant. But this, during this interim period, between now and April 2nd, this makes it much more favorable for our American car manufacturers. Can you see that, Peter? Nice to be tall, Peter, right? You can see it so nice. That's why he's such a gentleman. He doesn't have to rush. And this is the same just for Mexico, sir, the previous one. Same thing for Mexico. One for Canada, one for Mexico. Yes, sir. They've been in the news lately, haven't they? And I spoke to the President of Mexico, a wonderful woman, today. And we helped them out with a problem they were having, having to do with the tariffs, short-term tariffs. And we had a very good conversation. Also, we discussed drugs, and they've been working much harder lately. Do you notice that? On people coming in and drugs. And we've made tremendous progress on both. President Trump, what's your thought about why the markets are so spruced? Do you think they don't like the tariffs or do they not like the uncertainty with some of the changes and the carve-outs? Well, a lot of them are globalist countries and companies that won't be doing as well because we're taking back things that have been taken from us many years ago. We've been treated very unfairly as a country. We protect everybody. We do everything for all these countries. And a lot of these are globalist in nature. You know, they have — if you're outside of the United States, it's going to be a little bit different. We just weren't treated right. We were ripped off as a country. I've been saying it for a long time. And I did it to a certain extent in the first administration. But with COVID coming in, we had to focus on that toward the end. But we had the greatest economy in history in the first administration, and I think we'll do even better now. But this is something that we have to do. There'll always be a little short-term interruption. I don't think it's going to be big. But the countries and companies that have been ripping us aren't particularly happy with what I'm doing. But the United States will be very happy. And, you know, our farmers are going to be very happy. And again, there'll be disruption. But in the end — I said it before with China — we signed an unbelievable deal with China — $50 billion in purchases. And we're doing great. Biden, however, when he came in, he never — they never enforced that deal. So that's the only thing. But, basically, you have globalist companies that have been ripping us off that won't be able to rip us off any longer. I think that's what the big charge is. Have you been influenced by some of these exemptions that have been announced and some of these temporary delays? Have you been influenced in those decisions because of the market reaction? Well, there were no delays at all. No, nothing to do with the market. I'm not even looking at the market. Because, long term, the United States will be very strong with what's happening here. Now, these are countries and companies — foreign companies — that have been ripping us off. And no President did anything about it until I came along. And then I did a lot about it. You know, we took in, in tariffs from China, $600 billion. Nobody else took in 10 cents from China. They never did. But when COVID came along, we had to focus on COVID. We did a great job. We got rid of that. We ended up handing over with a market that was higher than it was previous to COVID coming in. But this is very much about companies and countries that have ripped off this country — our country, our beloved USA. And they're not going to be ripping us off anymore. So, you know, I think that has an impact on the market.