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President Donald Trump downplayed economic concerns over his tariff plans, telling businesses to build in America to avoid financial concerns.
Trump shared the updates during an interview on Sunday during Fox News Channel’s “Sunday Morning Futures.”
“Build it here and there’s no tariff,” he said, referring to the examples of Honda and Toyota changing plans to build more vehicles in the U.S.
Tariffs against Canada and Mexico have been delayed until April 2 when the rates are scheduled to begin at 25 percent. Trump also responded to concerns about tariffs leading to an economic recession for Americans.
“I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing.” He then added, “It takes a little time. It takes a little time.”
Tariffs were scheduled to begin against Canada and Mexico on March 4 before a delay by the president.
Trump previously announced delays to tariffs against Mexico and Canada after concessions by leaders from both nations to secure the border and stop the flow of drugs at the start of February.
Trump first shared the news of the changes with Mexico which included the southern neighbor committing to supplying 10,000 soldiers along the border.
“I just spoke with President Claudia Sheinbaum of Mexico. It was a very friendly conversation wherein she agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States. These soldiers will be specifically designated to stop the flow of fentanyl, and illegal migrants into our Country,” Trump posted to Truth Social.
“We further agreed to immediately pause the anticipated tariffs for a one month period during which we will have negotiations headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico. I look forward to participating in those negotiations, with President Sheinbaum, as we attempt to achieve a “deal” between our two Countries,” he added.
Trump later released a second statement explaining his decision to delay tariffs for Canada.
“Canada has agreed to ensure we have a secure Northern Border, and to finally end the deadly scourge of drugs like Fentanyl that have been pouring into our Country, killing hundreds of thousands of Americans, while destroying their families and communities all across our Country,” Trump wrote.
“Canada will implement their $1.3 Billion Border plan, and as per Prime Minister Trudeau, will be, “reinforcing the Border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly 10,000 frontline personnel are, and will be, working on protecting the Border,” the statement continued.