Trump Makes New Tariff Announcement as He Prepares to Address Congress
March 3, 2025
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Sonam Sheth is an Evening Politics Editor at Newsweek who is based in New York. She joined Newsweek in 2024 and previously worked at Business Insider and CNBC. Sonam has extensive experience covering national security, foreign policy, elections, and stories at the intersection of law and politics. Her work has been cited in The Washington Post, The Atlantic, Vanity Fair, and others. She has also frequently appeared on national television and radio, including MSNBC, NBC News, BBC World News, BBC News radio, and more. You can get in touch with Sonam at s.sheth@newsweek.com. Languages: English, Hindi, and French.
Sonam Sheth
Evening Politics Editor
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Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
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President Donald Trump announced new tariffs on “external” agricultural products on Monday.
Why It Matters
Trump pledged during his 2024 campaign that he would impose steep tariffs on friends and foes alike, sparking immediate criticism from economists and financial analysts who said U.S. consumers would likely bear the brunt of the cost.
The president has acknowledged that as well, saying this month that Americans could feel “some pain” associated with tariffs but insisting it would “all be worth the price that must be paid.”
President Donald Trump during a press conference in the East Room of the White House on February 27, 2025, in Washington. President Donald Trump during a press conference in the East Room of the White House on February 27, 2025, in Washington. Carl Court – Pool/Getty Images
What To Know
“To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States,” Trump wrote on his Truth Social. “Tariffs will go on external product on April 2nd. Have fun!”
Trump made the announcement as he prepares to address a joint session of Congress on Tuesday for the first time in his second term.
Tariffs on Mexico and Canada are set to take effect on Tuesday, barring last-minute intervention from Trump. Commerce Secretary Howard Lutnick told CNN on Monday that Trump will decide Monday afternoon whether to move forward with imposing a 25 percent tariff on goods from Mexico and Canada and a 10 percent tariff on Chinese goods.
The president agreed to delay the tariffs earlier this month after Canada and Mexico pledged to work with the U.S. on curbing fentanyl trafficking and illegal border crossings.
What People Are Saying
Commerce Secretary Howard Lutnick told CNN on Monday: “He knows they’ve done a good job on the border. They haven’t done enough on fentanyl. Let’s see how the president weighs that today. He’s going to decide this afternoon and tomorrow we’re going to put out those tariffs.”
Mexican President Claudia Sheinbaum, at a news conference Monday, about the tariffs: “We have a plan B, C, D.”
This story is developing and will be updated as more information becomes available.
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