Trump Temporarily Suspends Tariffs on Mexico and Canada Under USMCA
The U.S. President has delayed new import tariffs until April 2, citing ongoing negotiations with Mexico and Canada over trade and border issues.
- Donald Trump announced a temporary suspension of tariffs on goods from Mexico and Canada covered by the USMCA, effective until April 2.
- The tariffs, initially imposed earlier this week, include a 25% duty on most imports and a 10% duty on Canadian energy products.
- Trump cited discussions with Mexican President Claudia Sheinbaum and border security concerns, including drug trafficking, as reasons for the delay.
- Canada has responded with retaliatory tariffs and remains skeptical of a resolution, with tensions high between Trump and Canadian Prime Minister Justin Trudeau.
- The automotive industry, heavily reliant on cross-border trade, faces significant uncertainty, though temporary relief has been granted for USMCA-compliant vehicles.
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