{"id":11015,"date":"2025-03-07T01:08:42","date_gmt":"2025-03-07T01:08:42","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/trump-suspends-mexico-and-canada-tariffs-on-usmca-goods-for-a-month\/"},"modified":"2025-03-07T01:08:42","modified_gmt":"2025-03-07T01:08:42","slug":"trump-suspends-mexico-and-canada-tariffs-on-usmca-goods-for-a-month","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/trump-suspends-mexico-and-canada-tariffs-on-usmca-goods-for-a-month\/","title":{"rendered":"Trump Suspends Mexico and Canada Tariffs on USMCA Goods for a Month"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Two days after imposing sweeping tariffs on Canada and Mexico, President Trump on Thursday abruptly suspended many of those levies, sowing confusion with investors and businesses that depend on trade with the countries.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The president said he would allow products that are traded under the rules of the U.S.-Mexico-Canada Agreement, the trade pact he signed in his first term, to avoid the stiff 25 percent tariffs he imposed just days ago on two of America\u2019s largest trading partners.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The suspension effectively abandons many of the tariffs that Mr. Trump had placed on Canadian and Mexican products \u2014 levies he said were necessary to stem the flow of drugs and migrants into the United States.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">His decision came a day after he said he would grant a 30-day reprieve to automakers, who had complained to the president that the levies would cause severe damage to U.S. carmakers. Mr. Trump implied that any relief would be short-lived, saying that other tariffs on Canadian and Mexican products are coming in April.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Mr. Trump\u2019s chaotic, stop-and-start approach has sent stock markets tumbling and generated anxiety among industries that depend on trade with Canada and Mexico, which account for more than a quarter of U.S. imports and nearly a third of U.S. exports. After Mr. Trump imposed his tariffs, Canada retaliated with levies on $20.5 billion worth of American goods, including agricultural products, and Mexico was threatening to impose its own import taxes on U.S. goods on Sunday if Mr. Trump did not relent.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Still, the decision to suspend the tariffs did little to calm financial markets, which have been jittery since Mr. Trump ratcheted up his trade war earlier this week. In addition to hitting Canada and Mexico, Mr. Trump placed a second 10 percent tariff on all Chinese imports, prompting another round of retaliation from Beijing on American products. The president has not suspended any of his levies on China.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The S&amp;P 500 fell 1.8 percent on Thursday, taking the slide for the index this week to 3.6 percent and putting it on course for its worst week since a banking crisis two years ago that felled some of the country\u2019s small lenders.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Speaking from the White House on Thursday, Mr. Trump said his decision would protect American carmakers and farmers. He insisted that there were \u201cno delays at all\u201d and his order had \u201cnothing to do with the market.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cI\u2019m not even looking at the market, because long term, the United States will be very strong with what\u2019s happening here,\u201d he said. \u201cNow these are countries and companies, foreign companies, that have been ripping us off, and no president did anything about it, until I came along.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-3\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The president said earlier in a post on social media that, after speaking with Mexico\u2019s president, he was suspending tariffs on many imports from the country indefinitely. But a separate round of tariffs he has already pledged still awaits on April 2.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cAfter speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement,\u201d he wrote on social media.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cOur relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl,\u201d he added.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Ms. Sheinbaum posted \u201cmany thanks\u201d to Mr. Trump on social media on Thursday, saying \u201cwe had an excellent and respectful call in which we agreed that our work and collaboration have yielded unprecedented results.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-4\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Later in the day, Mr. Trump also announced that his suspension would cover certain imports from Canada.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Dominic LeBlanc, Canada\u2019s finance minister, said that after Mr. Trump\u2019s suspension, Canada is suspending plans to impose a second round of retaliatory tariffs.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But Doug Ford, the premier of Ontario, the most populous province, dismissed the suspension. \u201cThis whole thing with President Trump is a mess,\u201d Mr. Ford told reporters. \u201cWe went down this road before. He still threatens the tariffs on April 2.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Peter Navarro, the senior counselor for trade and manufacturing, told reporters in a call Thursday that the tariffs were about stopping deaths from fentanyl. \u201cWhat America needs now is a solemn commitment from China, Canada and Mexico to stop killing Americans and to take actions that will immediately stop the fentanyl carnage,\u201d he said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Canada and Mexico have responded to Mr. Trump\u2019s tariffs with <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/01\/world\/canada\/canada-us-border-immigration.html\" title=\"\">various<\/a> <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/02\/us\/mexico-trump-tariffs-troops-cartel-china.html\" title=\"\">measures<\/a> to strengthen border security, and <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/01\/30\/world\/canada\/canada-fentanyl-trump.html\" title=\"\">U.S. statistics show<\/a> that Canada is responsible for just a tiny percentage of the fentanyl coming into the United States. Real-time, national data on fentanyl overdose deaths \u2014 another metric frequently cited by Trump officials \u2014 <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/04\/upshot\/trump-fentanyl-tariffs.html\" title=\"\">does not appear to exist<\/a>.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-5\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Not all imports will be free from the tariffs. A White House official who briefed reporters but was not authorized to speak publicly said that 38 percent of imports from Canada used U.S.M.C.A. preferences last year, as did about half of Mexican imports. The official said that oil imported from Canada typically did not, and so would face a 10 percent tariff.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Economists have come up with different numbers for how many goods the tariff suspension could affect. According to calculations by the Peterson Institute for International Economics, about 15 percent of U.S. merchandise imports from Canada and Mexico may not be eligible for preferential tariffs under U.S.M.C.A.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">William Jackson, the chief emerging markets economist for Capital Economics, said that about 10 percent of Mexico\u2019s exports to the United States fall outside the U.S.M.C.A. trade agreement. That includes some automobiles and machinery exports, he said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cIn both cases this is because producers have found it burdensome to comply with regional content requirements needed for tariff-free trade,\u201d Mr. Jackson said. BMW, for example, <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/05\/us\/politics\/trump-lutnick-tariffs-reduction-canada-mexico.html\" title=\"\">imports some vehicles<\/a> from a factory in San Luis Potos\u00ed, Mexico, for which it pays a tariff, rather than using the terms of U.S.M.C.A.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The White House official said the suspension had been instigated by U.S. automakers, who <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/05\/us\/politics\/trump-lutnick-tariffs-reduction-canada-mexico.html\" title=\"\">argued in a call<\/a> with the president on Tuesday that putting tariffs on cars and parts from Canada and Mexico would impose billions of dollars of new costs on them and effectively erase all of their companies\u2019 profits.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-6\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Many other trade groups had raised similar complaints about the tariffs, including farmers who depend on imports of Canadian fertilizer and export their products to Canada and Mexico.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The executive order said that potash, a fertilizer from Canada that U.S. farmers depend on, would be charged a 10 percent levy instead of 25 percent.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe don\u2019t need trees from Canada,\u201d Mr. Trump said Thursday. \u201cWe don\u2019t need cars from Canada. We don\u2019t need energy from Canada.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cSo where we can be self-sustaining, which is in most things, if we have more oil and gas than anybody \u2014 our forests are massive, massive forests,\u201d he continued. \u201cWe\u2019re just not allowed to use it because of the environmental lunatics that stopped us.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The suspension in the tariffs may do little to blunt the overall economic pain that Mr. Trump\u2019s levies would inflict. The president has said he will impose 25 percent tariffs on all steel and aluminum as of March 12 and that on April 2 he will announce tariffs on auto imports as well as \u201creciprocal\u201d tariffs. Those levies <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/02\/13\/us\/politics\/trump-tariffs.html\" title=\"\">will raise U.S. tariffs<\/a> to match the levels set by other countries, while also taking into consideration other practices that affect trade, like taxes and currency.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-7\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Mr. Trump\u2019s economic advisers have argued that the tariffs will not fuel inflation. However, Treasury Secretary Scott Bessent acknowledged on Thursday that there could be a temporary uptick in prices.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cCan tariffs be a one-time price adjustment? Yes,\u201d Mr. Bessent said at the Economic Club of New York.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But Mr. Bessent said that as part of Mr. Trump\u2019s broader economic agenda, which includes increasing energy production and rolling back regulations, he was not concerned about trade policies leading to higher prices.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cAcross a continuum, I\u2019m not worried about inflation,\u201d Mr. Bessent said.<\/p>\n<p class=\"css-798hid etfikam0\">Simon Romero<!-- --> and <!-- -->Ian Austen<!-- --> contributed reporting.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2025\/03\/06\/us\/politics\/trump-mexico-tariffs-suspended.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two days after imposing sweeping tariffs on Canada and Mexico, President Trump on Thursday abruptly suspended many of those levies,<\/p>\n","protected":false},"author":1,"featured_media":11016,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[1476,2487,114,2348,338,2347,1475,113,109,111,1441],"class_list":["post-11015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-claudia","tag-commerce-department","tag-donald-j","tag-howard-w","tag-international-trade-and-world-market","tag-lutnick","tag-sheinbaum","tag-trump","tag-united-states-international-relations","tag-united-states-politics-and-government","tag-united-states-mexico-canada-agreement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump Suspends Mexico and Canada Tariffs on USMCA Goods for a Month - World News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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