Oil might get a 10 per cent break but the rest of the tariffs will be 25 per cent: Trump

U.S. President Donald Trump says he will probably set tariffs on Canadian oil at 10 per cent as the White House confirms he's going forward with 25 per cent levies on imports from Canada on Saturday.

As he signed unrelated executive actions in the Oval Office Friday, Trump was asked if the duties would include Canadian crude oil.

The president says there is nothing that Canada, Mexico or China can do to prevent the tariffs from being implemented.

While the president wasn't clear on details of his tariff plan, he repeated his complaints about trade deficits and again linked the duties to fentanyl coming into the United States.

Earlier Friday, Prime Minister Justin Trudeau said Canada is ready to deliver a "purposeful, forceful but reasonable immediate" response to the tariffs.

The federal government has said it has multiple options for retaliatory tariffs ready to deploy, depending on what Trump ultimately does.

This report by The Canadian Press was first published Jan. 31, 2025.