Washington: U.S. President Donald Trump has announced the imposition of tariffs on oil and gas starting from February 18.
While speaking to journalists in Washington, President Trump stated that tariffs will also be applied to steel, aluminum, and copper. He added that the European Union will also face tariffs. Trump acknowledged that the implementation of tariffs may cause short-term disruptions but expressed no concern over the market’s reaction. He further mentioned that he would speak with the Russian president and was hopeful about taking some important steps.
Trump emphasized that serious discussions are ongoing with Russia. He criticized the Biden administration, claiming it had corrupted government institutions. He alleged that during Biden’s tenure, federal employees were receiving salaries while staying at home. He also announced a plan to cut one trillion dollars in unnecessary expenditures.
Taking a firm stance, Trump stated that Canada’s behavior has not been favorable and asserted that Canada, Mexico, and China would not be able to do anything about the tariffs.
It is worth noting that earlier, the White House had announced the imposition of a 25% tariff on Mexico and Canada and a 10% tariff on China starting from February 1.
