Trump talks more tariffs: Says there’s nothing Mexico, China and Canada can do

It’s never a dull moment with Trump.

• Nothing can be done by China, Mexico and Canada right now to forestall tariffs
• We have big deficits and tariffs are something we’re doing
• We may increase tariffs
• Canada has treated the US very unfairly
• Not looking for concessions
• Will put tariffs on chips, oil and gas
• Oil and gas tariffs by Feb 18
• Will put tariffs on Steel, aluminum and copper
• Says he wants to bring pharmaceuticals back to America with tariffs
• We are going to take back the Panama canal
• Bringing tomorrow’s tariffs down to 10% on Canadian oil and gas
• Tariff costs are sometimes passed onto consumers
• Tariffs may cause short-term disruption
• Not concerned about market reaction to tariffs
• We’ll be doing something very substantial on tariffs with European Union

“The way you bring [manufacturing] back to the country is by putting up a wall – and the wall is a tariff wall,” he said.

Alright, enough talk, let’s see what comes on the weekend. Oil rallied late on these comments and the euro ticked modestly lower. The Canadian dollar was little changed.

Separately, a report says Trump and Nvidia’s CEO discussed AI chip export controls and DeepSeek.

This article was written by Adam Button at www.forexlive.com.