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Shop NowContrary to rumors started by Reuters, the tariffs against Canada, Mexico and China are going into effect February 1. Exactly as scheduled. Democrats were hoping that there would be a month long reprieve allowing the affected leaders to make a last minute deal. They already had that chance and blew it.
Tariffs on schedule
President Donald Trump’s previously announced tariffs are going into effect right on schedule. On Friday, January 31, the subject came up at the regular press briefing. White House Press Secretary Karoline Leavitt confirmed that beginning February 1, any goods coming in from Canada and Mexico will be subject to a 25 percent surcharge.
Shipments from China will get an extra 10 percent added on. For now. If they keep trying to mess with US economically, that could increase to 100 percent.
Democrats are expecting the very worst and shouting their gloom and doom scenario from the media rooftops. Trump’s tariffs, Axios predicts, will “spark retaliation of an unknown magnitude, risking economic pain for businesses and consumers.”
By “unknown magnitude,” they imply catastrophe. The most likely outcome is that the offending nations will adjust their onerous policies to get the sanctions lifted.
Setting aside Trump’s reason for imposing the penalties, stopping the deadly flood of fentanyl into the United States, Democrats focus on the potential for consumer inconvenience. The Tax Foundation was quick to issue an “analysis” calling the tariffs “an effective tax increase on U.S. households of $830 this year alone.”
They don’t mention that other policies are bound to create a much bigger offset, while causing severe economic chaos in the affected nations. As Ms. Leavitt points out, “I think Americans who are concerned about increased prices should look at what President Trump did during his first term.”
Reuters was misinformed
Progressive media outlets woke up Friday morning to a bulletin on the wire services from Reuters reporting “the White House would push off tariff implementation until March 1 — leaving a window for negotiation that could kill the plan altogether.”
They lied. Giving them the benefit of the doubt, we’ll say they were “misinformed” about the tariffs. One of the first questions at the press briefing asked if it was true. Great question.
“I saw that report and it is false,” White House press secretary Karoline Leavitt insists. “I was just with the president in the Oval Office, and I can confirm that tomorrow, the February 1st deadline that President Trump put into place in a statement several weeks ago, continues.” So there you have it.
The tariffs are steamrolling right along as scheduled. Not only that, there “was no ‘update‘ on whether certain goods would be excluded.”
Reuters ended up throwing the financial markets into chaos. As Axios relates, “there has been whiplash across financial markets since the initial report of the delay, and subsequent pushback by the White House.”
When Reuters broke the fake news, the U.S. dollar instantly weakened. As Leavitt spoke, the buck “immediately surged against both the Canadian dollar and the Mexican peso.” That’s because “tariffs lead to a stronger dollar, and the currency pairs have been incredibly sensitive to headlines in recent days.“
