WASHINGTON – President DonaldΒ Trump is postponing 25% tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the economic fallout from a broader trade war.
Trump said in the Oval Office Thursday that he still plans to impose βreciprocalβ tariffs starting April 2.
βMost of the tariffs go on April the second,β Trump said before signing the orders. βAnd then we have some temporary ones and small ones, relatively small, although itβs a lot of money having to do with Mexico and Canada.β
Imports from Mexico that comply with the 2020 USMCA trade pact will be excluded from the 25% tariffs for a month, according to the orders signed by Trump.
Imports from Canada β especially autos and auto parts β that comply with the trade deal will also avoid the 25% tariffs for a month. The potash that U.S. farmers import from Canada will be tariffed at 10%, the same rate at which Trump wants to tariff Canadian energy products.
