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Trailer trucks queue to cross into the United States at the Otay Mesa Port of Entry, in Tijuana, Mexico, November 27, 2024. Jorge Duenes/Reuters
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Since President Donald Trump won the election in November, businesses across the globe have been bracing for higher tariffs — a key Day One promise the president made.

But over a week into his presidency, Trump has yet to enact any new tariffs.
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That could change, come 11:59 p.m. ET on Saturday — the deadline Trump set for when he says he will slap 25% tariffs on all Mexican and Canadian goods and a 10% tariff on all Chinese goods.

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Should these threats be believed? Yes and no, said Trump’s former Commerce Secretary Wilbur Ross.
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Ross, who was one of a handful of initial cabinet members in Trump’s first administration who kept their position for the entire four-year term, said he advocated for such exclusions when he advised Trump on tariff policies.



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