The President of the United States, Donald Trump, announced that he would suspend the 25% tariffs on products from Canada included in the USMCA trade agreement for a period of one month. This decision was made following a conversation between Trump and the Mexican leader, Claudia Sheinbaum.
Howard Lutnick, the Secretary of Commerce, mentioned that the pause in tariffs applied to products from Canada and Mexico, covered by the USMCA agreement, will likely encompass all goods and services included in the treaty. Trump thanked Sheinbaum for her cooperation and hard work at the border and in the fight against fentanyl.
The White House stated that reciprocal tariffs will go into effect on April 2 against countries that impose tariff and non-tariff barriers on goods and services from the United States. Trump has been firm in his stance on activating tariffs as a measure to correct trade imbalances and pressure Mexico, Canada, and China.
Trump's decision to temporarily suspend tariffs on Canada is part of his policies to strengthen the American economy and promote domestic production. The pause in tariffs will extend until April 2, and plans for new global tariffs are expected to be presented on that date.
