Trump Plans to Hit Canada and Mexico With 25% Tariffs

The transcript discusses the President's confirmation of 25% tariffs on the US's closest neighbors, Canada and Mexico, set for February 1st. The tariffs aim to protect American industry but raise concerns about economic impacts, particularly on oil imports and potential inflation. The Trump administration, including Howard Lutnick and Scott Besson, plays a key role in shaping trade policy, with differing views on the tariffs' effects. The move is not just a negotiation tactic, and responses from Canada and Mexico are anticipated.

What was Howard Lutnick's stance on the notion that tariffs would cause inflation?

What reactions are expected from Canada and Mexico in response to the proposed tariffs?