The media is reporting that United States (US) President Donald Trump has issued temporary tariff exemptions for a wide range of goods coming into the US from Canada and Mexico, partially reversing the sweeping 25% duties he imposed on the two trading partners just days earlier. The exemptions will apply to goods that are compliant with the United States – Mexico – Canada Agreement (USMCA, or CUSMA), a White House official told reporters earlier Thursday afternoon. The pause will last until April 2, 2025, the same day Trump is poised to enact “reciprocal tariffs” on foreign nations that have import taxes on US goods. Media reports indicate that approximately 50% of Mexican imports and 38% of Canadian imports are covered by the USMCA/CUSMA.
Trump tariffs live updates: U.S. pauses tariffs on some Canadian, Mexican imports until April 2
The CSCB will continue to provide updates as more information becomes available. At this time, there is no information about whether Canada’s retaliatory tariffs will also be suspended.