In a surprising twist just two days after starting a continental trade war, U.S. President Donald Trump announced a temporary waiver on tariffs for certain products from Canada and Mexico. Specifically, products falling under the North American Free Trade Agreement (NAFTA) will be exempt from the tariffs. This decision comes after Trump originally stated that only Mexico would receive a partial reprieve on tariffs until April 2.
Goods from Canada that comply with the Canada-United States-Mexico Agreement (CUSMA) will avoid the 25 per cent tariffs for a month. This primarily includes auto components and potash, a key fertilizer imported by U.S. farmers from Canada, which will be subject to a lower 10 per cent tariff. Trump emphasized that most of the tariffs will go into effect on April 2, with only temporary and relatively small exemptions for Mexico and Canada.
However, the exemption does not extend to steel and aluminum goods, which will likely face separate tariffs scheduled to take effect next week. This development adds further complexity to the evolving trade relations between the United States, Canada, and Mexico. Stay tuned for updates on how these decisions will impact the economies of the North American countries involved.
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Video “Trump delays tariffs on some goods from Canada, Mexico for 1 month” was uploaded on 03/07/2025 to Youtube Channel Global News