Trump aides want to hit Canada, Mexico with tariffs as soon as February 1 – before talks

Wall Street Journal (gated) report:

• Momentum is growing among President Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.

An unnamed ‘Senior administration official’ in the report says Trump is willing to move quickly, citing trump’s imposition f tariffs on Colombia:

• Trump views tariffs as an “effective negotiating tool” and “effective punishment” for nations that don’t hew to his agenda

• The president remains “very serious” about his threats to Mexico and Canada and expects them to cooperate

This article was written by Eamonn Sheridan at www.forexlive.com.