Trump responds to tariff fallout, tells companies they wont be affected if they move to US

WASHINGTON — President Trump expressed his frustration with Canadian bank policies and mused about Mexican drug busts Tuesday morning — hours after imposing a 25% tariff on the US’s neighbors in protest of fentanyl imports that killed one in every 1,000 Americans over the past five years.Trump, who also slapped a new 20% tariff on goods from fentanyl lab hub China at midnight, was expected to address the stunning trade sanctions during remarks to a joint session of Congress Tuesday evening.“Canada doesn’t allow American Banks to do business in Canada, but their banks flood the American Market.Oh, that seems fair to me, doesn’t it?” Trump wrote on Truth Social Tuesday morning.In another post, the president shared a screenshot of a New York Times article that quoted a Mexican cartel leader who “says he’s trying to figure our how to protect his family in case the American military strikes inside Mexico.”In a third message, Trump wrote: “IF COMPANIES MOVE TO THE UNITED STATES, THERE ARE NO TARIFFS!!!”The president matter-of-factly said Monday that the tariffs would proceed after delaying their implementation last month.The 78-year-old initially threatened the steep levies shortly after re-entering the White House on Jan.

20, saying that both Canada and Mexico had to do more to stop illegal immigration and fentanyl — and that China too must cease its exports of the lethal synthetic opioid that kills in extremely low doses.Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum rushed to appease Trump after the initial threat and illegal migrant encounters along the US-Mexico border hit a 25-year low in February.Although Trump emphasized fentanyl smuggling in moving forward with the tariffs, he’s also broadly described tariffs as a way of boosting the economy by protecting American companies and incentivizing foreign firms to manufacture items in the US.China, Mexico and Canada are America’s top three sources of impo...