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Mexico, Canada tariffs coming Tuesday, but Trump will set exact levels, says US commerce head

  • Commerce Secretary Howard Lutnick announced on March 2 that tariffs on Mexico and Canada will resume on Tuesday, with President Donald Trump determining the exact levels.
  • Lutnick stated that the separation of government spending from GDP reports could complicate the measure of the U.S. Economy's health, as reported by The Associated Press.
  • Utility companies expressed concerns that the tariffs could raise costs for ratepayers and refineries providing fuel in the Midwest.
  • Trump confirmed the tariffs on his social media, citing the need to combat the illicit drug trade as a reason for the decision.
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morningstar.ca broke the news in on Friday, February 28, 2025.
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