Donald Trump may reach an agreement with Mexico and Canada to reduce import tariffs by 25%. This was stated by U.S. Commerce Secretary Wilbur Ross. In his remarks, he noted that Trump might announce this agreement as early as mid, March 5.
"I think (Donald Trump) is going to reach an agreement with them, there won't be any pause, nothing like those pause things, but I think he will resolve: you do more and we’ll meet in the middle somehow and probably we’ll announce it tomorrow," said Ross.
Information about a possible agreement emerged after the implementation of import tariffs on Mexican and Canadian goods. Trump proposed to raise tariffs on Chinese goods to 20%, considering that the imports of these three countries in the fight with fentanyl are insufficient.
In response to the introduction of tariffs, Mexican President Claudia Sheinbaum stated that Mexico would announce countermeasures in response to U.S. actions on Sunday, March 9. She also emphasized that a call with President Trump is scheduled for this week.
In response to the tariffs from Canada, they promised to impose their own tariffs on American goods worth up to 30 billion dollars. Canadian President Justin Trudeau accused Trump of taking "unacceptable" measures. He also stated that Canada is determined to take appropriate measures.
China also imposed tariffs on American goods and added a list of unreliable companies with ten new identifiers in response to Trump’s actions.
