He first announced the stopping tariff for Mexico after a telephone call with the President of that country Claudia Sheinbaum. He later extended that deviation in Canada.
Here’s what happened, which produces on the break applies and what follows:
What happened?
Trump signed orders on Thursday to temporarily exempt goods from Mexico and Canada covered by US Trade Agreement in Mexico-Canada (USMCA) from the tariff by 25 percent. The commands suspended by tariffs came into force 05:01 GMT on Friday.
These tariffs kicked out on Tuesday Tuesday, a month after Trump had first They announced 25 percent of tariffs On all goods imported from Mexico and Canada, and an additional 10 percent of the import tariff from China, in February. The tariffs should initially enter into force on 4. February, but Trump postponed them in a month after negotiations with Sheinbaum and Canadian Prime Minister Justin Trudeau.
On Wednesday Trump temporarily had Exempted car manufacturers From a tariff of 25 percent in a month.
The tariff break announced on Thursday will remain until 2. April, the Trump announced. Then Trump threatened to impose global regime of reciprocal tariffs on all US trade partners: Each country is facing the same tariff rates that undergo US goods.
But before that, Trump is still set to impose a tariff of 25 percent on steel and aluminum import 12. March. Canada and Mexico are large exporters of these products in the United States – especially Canada, which are supplied with most of their aluminum.
What is behind Trump Tariff break?
In his survey Social Post, Trump wrote: “After talking to the President Claudia Sheinbaum of Mexico, I agreed that Mexico would not pray to pay the tariffs in an agreement of the IMMC. This Agreement is until 2. April.”
Trump added that he did it “out of respect” SheinbaumAdding the United States and Mexico had a good relationship, and two countries work together to regulate undocumented migration and the flow of Fentanil in the United States.
He later said that the Canadian export to the US covered with the USMCA would also be similarly exempt.
What is the otmiec?
USMCA is short for the United States Agreement-Mexico-Canadian, a free trade agreement negotiated during the Trump’s first term.
It was signed in 2018. and entered into force 1. July 2020. year, replacing the North American Free Trade Agreement in 1994. (oil).
The user should review every six years.
How much relief does Mexico get?
Although the details of certain products that will be exempt are unclear, the total benefit of Mexican exports is significant.
2024. Years, Mexicov Total Export On the US were worth about $ 505.8 billion. According to the data on the US Bureau, the exports that fell under the olf is around $ 249.7 billion.
This means that Trump’s return will relate to about 49 percent of Mexican exports to the United States.
How much facilitation does Canada get?
In 2024. year, Canadian exports in the United States was worth about 412.7 billion dollars. It was about $ 156.9 billion under the USMCA.
Thus, the Trump Pause refers to 38 percent of Canada’s exports to the United States.
Almost all agricultural products traded between the United States and Canada belong to the USMCE. In addition to Canada, the Trump return applies to the caly, fertilizer.
The break does not cover fully energy products, which Trump imposed a separate tariff of 10 percent. Canada is the largest source of oil imports in the USA.
How did they answer Mexico and Canada?
Mexican President Sheinbaum announced in X on Thursday, “we had an excellent and respected call in which we agreed that our work and cooperation gave unseen results, within respect for our sovereignty.”
While Mexico was initially planned to announce the rentaliator tariffs on Sunday in the public event in Zocal, the heart of Mexico City, that the gathering is now ready to be more recovery celebrations.
When Trump first announced the tariffs, Canada imposed Rentaliator tariffs worth 30 billion Canadian dollars ($ 21 billion) on American products, including orange juice, cosmetics, footwear and paper products. Two Canadian officials told the Associated News agency for journalists on the state of anonymity that these tariffs would remain in their place.
Canada postponed its second wave of retaliating tariffs on American imports from 125 billion USD dollars ($ 87.3 billion) imported by 2. April, Canadian Finance Minister Dominic Leblanc wrote in x post.
Doug Ford, Prime Minister of Canada Ontario, also said that 25 percent of the tariff on Ontario electricity, which is delivered to 1.5 million Americans in Minnesota, New York and Michigan. “Pause on some tariffs means nothing. Until President Trump removes the threat of tariffs for good, we will be tireless,” Ford wrote in X post.
Canadian Prime Minister Justin Trudea, which is coming out of his position on Sunday after the Liberal Party, on Sunday, told reporters, in the Wednesday, in the foreseeable future after calling a trip with Trump on Wednesday. “It was a colorful call. It was a very essential call,” Trudeau said.
Shortly afterwards, the American Treasury Minister Scott Bessent said in New York, then we will do that “, then we will do it”, then we will do it “, then we will do it”, then we will Do, then we will do it, then “then we will do it,” then we will do it, “then we will do it,” then we will do it, “the tariffs will go up.”
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2025-03-07 11:57:00
