Trump Temporarily Suspends Tariffs on Mexico and Canada Following Talks

The suspension, effective until April 2, applies to imports under the USMCA, while Canada and Mexico pause their retaliatory measures.

President Donald Trump announced a temporary suspension of tariffs on Mexican and Canadian imports covered by the USMCA agreement, effective until April 2.
The decision follows phone conversations with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau, highlighting ongoing cooperation on migration and security issues.
Canada and Mexico have paused their retaliatory tariffs in response, with Canada stating it will not implement a second wave of tariffs before April 2.
The suspension excludes certain energy products and other imports, with 62% of Canadian imports still subject to tariffs, primarily energy goods taxed at 10%.
Experts warn the tariff policies could exacerbate inflation in the U.S., though Treasury Secretary Scott Bessent downplayed potential long-term effects.