On March 4th, 2025, President Donald Trump of the U.S. slapped tariffs on Mexico, Canada and China.
Two days later, Trump removed the tariffs on goods not covered by the USMCA pact, at least for a month, from Mexico and Canada. Goods not covered by USMCA are still subject to the new tariffs.
From NPR: “Two days after putting 25% tariffs on goods from Mexico and Canada, President Trump said on Thursday [March 6] that he will largely lift them — the latest twist in his on-again, off-again approach to an issue that has sent markets into a tailspin.”
“Trump started to tap the brakes on the tariffs on Wednesday [March 5th], after talking to the Big Three U.S. automakers. And then after a conversation with Mexican President Claudia Sheinbaum on Thursday [March 6th], he said on social media that he would give a break to all Mexican goods covered by the United States-Mexico-Canada Agreement (USMCA).”
“A few hours later, he signed executive orders that included relief for Canadian goods covered by the USMCA.”
Trump has a plan for April 2nd.
“The reprieve will last until at least April 2, when Trump plans to begin reciprocal tariffs on goods from a wider range of countries. The rates, products and countries affected by the upcoming reciprocal tariffs are still to be determined.“
“Canada and Mexico may avert the 25% tariffs beyond April 2 if they show they have made more progress curbing fentanyl trafficking, a senior administration official told reporters on a conference call ahead of the signing, speaking on condition of anonymity.”
What Trump plans for March 12th: “Trump told reporters that separate tariffs on steel and aluminum will go into effect as planned, on March 12.”
What Mexican President Sheinbaum said about her phone conversation with Trump: “Sheinbaum described her phone call with Trump as ‘respectful.’ She said she walked Trump through a set of his own government’s statistics showing a huge drop in the amount of fentanyl being seized by border authorities.”
