Yesterday morning (March 6), U.S. Commerce Secretary Howard Lutnick said that Canadian and Mexican imports compliant with USMCA may not have a tariff until April, and President Trump confirmed that later in the day.
The president said the tariffs will be delayed until April 2.
The Wall Street Journal quoted a White House official who said about half the imports from Mexico and 38 percent from Canada are exempt from tariffs under USMCA, the agreement Trump negotiated in his first term with Canada and Mexico replacing the 1994 North American Free Trade Agreement.
The WSJ also reported that Canada announced it will drop $87 billion in retaliatory tariffs that were set to be levied against the United States. Canada left in place $21 billion in tariffs on items like some fruits and vegetables, appliances, and liquor.
The Canadian Produce Marketing Association BB #:153602 posted a list of the fruits and vegetables subject to a 25 percent tariff coming into Canada, but it remains unclear which items have been removed.
