Trump Announces Partial Mexico/Canada Tariff Relief
No payments required on goods that fall under USMCA
EXCEEDING AUTHORITY: The U.S. Supreme Court ruled in a 6-3 decision that President Donald Trump exceeded his authority in unilaterally imposing tariffs with the International Emergency Economic Powers Act.
Following the implementation of tariffs on Mexico, Canada, and China, which went into effect earlier this week and promise to have drastic impacts on the HVAC industry, Pres. Donald Trump has announced that Mexico will not be required to pay tariffs on anything that falls under the USMCA (United States-Mexico-Canada) Agreement.
“This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum,” Trump announced on his social media site, Truth Social. “Our 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. Thank you to President Sheinbaum for your hard work and cooperation!”
President Claudia Sheinbaum Pardo, of Mexico, took to X to thank Trump and give an update on progress made.
“We had an excellent and respectful call in which we agreed that our work and collaboration have yielded unprecedented results, within the framework of respect for our sovereignties,” Sheinbaum said. “We will continue to work together, particularly on migration and security issues, which include reducing the illegal crossing of fentanyl into the United States, as well as weapons into Mexico. As mentioned by President Trump, Mexico will not be required to pay tariffs on all those products within the USMCA. This agreement is until April 2, when the United States will announce reciprocal tariffs for all countries.”
According to multiple outlets, Trump, in front of reporters at the Oval Office March 6, signed an executive order that would also postpone these tariffs, with similar parameters, for Canada.
The USMCA is the successor to the North American Free Trade Agreement (NAFTA), which was negotiated during Trump’s first term in 2018.
Despite an apparent warming of relations, Trump also took to Truth Social today to share his feelings about Canadian Prime Minister Justin Trudeau.
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“Believe it or not, despite the terrible job he’s done for Canada, I think that Justin Trudeau is using the Tariff problem, which he has largely caused, in order to run again for Prime Minister. So much fun to watch!” Trump said.
During a press conference held March 6, Trudeau said they are actively in talks to make sure these tariffs don’t “overly harm” certain sectors.
“We will be in a trade war, launched by the United States, for the foreseeable future,” Trudeau remarked, adding they are working very hard to get these tariffs dropped.
Trudeau said they will not be backing down from their response tariffs, but the USMCA announcement was a promising sign.
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