Trump Temporarily Suspends Tariffs on Canada and Mexico Under USMCA

Former U.S. President Donald Trump has announced a temporary suspension of 25% tariffs on imports from Canada and Mexico, which were previously imposed under the United States-Mexico-Canada Agreement (USMCA).

The pause, set to last for one month, affects 38% of imports from Canada and 50% from Mexico. The decision comes amid concerns over the tariffs’ impact on industries such as automotive and agriculture.

Trump’s move has triggered market uncertainty, with stock markets reacting negatively to the unpredictability surrounding trade policies. Meanwhile, tariffs on Chinese imports remain in place, with China warning of retaliatory measures.

While the suspension is temporary, Trump has hinted at the possibility of reciprocal tariffs in the future, though no concrete plans have been disclosed. This development underscores the ongoing shifts in U.S. trade policy and its potential consequences for international trade relations.