Americans are not happy
On Friday, former President Donald Trump announced plans to implement broad tariffs on key industries, including semiconductor chips, pharmaceuticals, steel, aluminum, oil, and gas.
“We’ll be doing pharmaceuticals—importantly in drugs and medicines. All forms of medicine and pharmaceuticals,” Trump stated. “And we’ll be doing, very importantly, steel, and we’ll also be doing chips and things associated with chips.”
Trump indicated that February 18 is the target date for tariffs on oil and gas imports. He also confirmed that starting Saturday, Canadian crude oil imports would face a 10% tariff, while other Canadian goods would be hit with a 25% tariff.
While he hinted at additional tariffs coming in the next few weeks, he did not specify exact dates.
Speaking from the Oval Office, Trump also vowed to impose tariffs on goods from the European Union, expressing frustration over trade relations. “They’re treating us so badly,” he said of the EU.
The announcement comes just one day before the administration is set to enact tariffs on imports from Canada, Mexico, and China, further escalating trade tensions.