Trump Hints at Possible Oil Exemption as February 1 Tariffs Loom
On January 30, 2025, President Donald Trump reaffirmed his plan to impose a 25% tariff on imports from Canada and Mexico. Speaking at a press briefing, he confirmed that the tariffs—set to take effect on Saturday, February 1—are part of a broader strategy to address immigration, drug trafficking, and trade imbalances. However, he left one major question unanswered: whether oil imports from the two countries would be exempt. Trump said the decision would depend on pricing and ongoing negotiations.
Today, January 31, the U.S. press secretary Karoline Levitt clarified that the tariffs will take effect as scheduled, removing any doubt about their immediate implementation. However, uncertainty remains over potential exemptions. How will Canada and Mexico respond?