Trump had said he was weighing issuing an exemption for Canadian and Mexican oil imports.
A worker organizes boxes of flowers intended for export to the U.S. at a flower farm in Chia, on the outskirts of Bogota, Colombia, Monday, Jan. 27, 2025. Press secretary Karoline Leavitt told reporters that Trump will be implementing 25% tariffs on Mexico and Canada as well as"for the illegal fentanyl that they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans. There are promises made and promises kept.
Trump had said he was weighing issuing an exemption for Canadian and Mexican oil imports, but Leavitt said she had no information to share on the president's decision on any potential carveouts. Shortly after Leavitt spoke, the S&P 500 stock index sold off and largely erased its gains on the day.
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