Trump delays US tariffs on Mexico and Canada again
US president Donald Trump has announced that 25% tariffs on Mexico and Canada will be pushed back to 2 April.
Trump posted the news about Mexico’s tariffs on Truth Social: “After 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.
“This agreement is until 2 April.
“I did this as an accommodation, and out of respect for, president Sheinbaum. 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!”
The US-Mexico-Canada Agreement (USMCA) is a free trade agreement that came into effect in 2020, during Trump’s first term as president.
Trump later the same day (6 March) signed an amendment extending the same relief to Canada.
The 20% tariffs on China remain in place.
The tariffs were first announced in February, however shortly afterwards they were delayed by a month following 11th-hour talks. They were officially introduced this week (4 March), with Canada introducing a retaliatory 25% tariff the same day.
Earlier this week, we dove into how spirits brands were reacting to the moves.
The producer of Jose Cuervo Tequila predicted an US$80 million impact on its business in 2025 from US tariffs, while there were concerns they could also impact US spirits sales.
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