By Canadian Press

Trump says tariffs making America rich while also suggesting trade deals are coming

Apr 17, 2025 | 1:40 PM

U.S. President Donald Trump showed little signs of backing down on his plans to tariff the world today — even as members of his administration continue to claim the duties will lead to the negotiation of new trade deals.

Trump says nothing he heard during a meeting with Italy’s Prime Minister Giorgia Meloni in the Oval Office today changed his mind about tariffs.

Trump says tariffs are making America “rich,” pointing to duties he imposed on Canada and Mexico — which the president has linked to fentanyl trafficking — as well as 25 per cent duties on steel, aluminum and automobiles that he claims are filling federal coffers.

Trump’s comments continue to sow confusion because the president also says that a lot of countries are looking to make a deal.

Treasury Secretary Scott Bessent says the administration’s process is to work with the “big 15 economies” first, noting meetings with Japan and calls with the European Union.

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Markets have been in turmoil since Trump launched — then partially paused — his global trade war earlier this month.

This report by The Canadian Press was first published April 17, 2025.

The Canadian Press

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