Summary
Trump announced that 25% tariffs on imports from Canada and Mexico will take effect on February 1, though a decision on including oil remains pending.
He justified the move by citing undocumented migration, fentanyl trafficking, and trade deficits.
Trump also hinted at new tariffs on China.
Canada and Mexico plan retaliatory measures while seeking to address U.S. concerns.
If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump’s pledge to reduce living expenses.
I believe if a good enters a country it’s deemed as being imported, even if it’s getting exported immediately. At some ports they have areas where goods are deemed not to have entered the country and they can be put back on another ship. Drive it over “the border” though and suddenly you have to do all the paperwork and pay the bills.
I’m not aware of trains and trucks being considered as little bits of neutral territory moving across the country.