Washington (EFE).- United States President Donald Trump announced Thursday a one-month pause, until Apr. 2, on the 25% tariffs against Canada on goods covered by the Mexico-US-Canada Agreement (USMCA).
The announcement was made in the Oval Office of the White House, a few hours after Trump made the same decision regarding Mexican products included in the USMCA, following a conversation with Mexican President Claudia Sheinbaum, whom he described as a “wonderful woman.”
The president signed an executive order delaying the imposition of tariffs on Canada and Mexico for one month.
The only goods exempt from the 25% US tariffs will be those covered by the USMCA, which Trump renegotiated during his first term (2017-2021) to replace the North American Free Trade Agreement (NAFTA).
Although the agreement does not cover all products, a significant part of the trade between the three countries is regulated by the USMCA.
There is now a period of uncertainty for companies trading between the three countries, as they will only be able to benefit from this tariff exemption for one month.
On Mar. 4, Trump imposed 25% tariffs on imports from Canada and Mexico, his main trading partners.
However, on Mar. 5, the White House announced a one-month moratorium on tariff implementation for the automotive sector in both countries, following talks with the primal US manufacturers (General Motors, Ford, and Stellantis) that assemble vehicles in Mexico and Canada.
The moratorium on automobiles and auto parts will last until Apr. 2.
The US president has repeatedly described tariffs as “the most beautiful word in the dictionary” and has used them in the past as a bargaining tool in both his first and current istrations to win concessions on trade, migration, and security. EFE
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