Washington, D.C. – President Donald Trump has delayed tariffs on goods from Canada and Mexico covered under the U.S.-Mexico-Canada Agreement (USMCA), just days after imposing 25% levies on imports from both nations.
The one-month exemption, set to expire on April 2, extends to potash—a key fertilizer—but does not fully cover Canadian energy products, which remain subject to a separate 10% tariff.
Trump introduced the tariffs after declaring a national emergency over fentanyl-related deaths, claiming the drug and its chemical precursors enter the U.S. via China, Canada, and Mexico. Additionally, a 20% tariff on Chinese imports remains in place.
The exemptions come just a day after Trump excluded automotive goods from the new tariffs, amid warnings that the levies could fuel inflation and slow economic growth.
However, uncertainty surrounding Trump’s trade policies has continued to rattle financial markets, with investors fearing further volatility. The tariffs are set for full enforcement on April 2, when Trump has threatened to implement global reciprocal tariffs on all U.S. trading partners.