Trump at first imposed 25% tariffs on Canadian and Mexican exports to the U.S., then exempted the duties on Mexican- and Canadian-made vehicles being transported into the U.S. and later by week’s end delayed the tariffs on almost all items for four weeks until April 2.

President Donald Trump said tariffs on some goods from Canada and Mexico planned for April 2 “could go up,” and would not predict whether the United States will have a recession in 2025.

Trump during his address to Congress said that Canada and Mexico ‘have allowed fentanyl to come into our country at levels never seen before.’

Trump extended his blanket tariff on Chinese goods to 20 percent this week, citing Chinese exports of illicit fentanyl.

"American importers pay the tariffs and then do everything they can to pass that cost on to American consumers," John Bolton said.