Trump provides Mexico, Canada with temporary tariff reprieve

Investing.com -- President Donald Trump on Thursday signed orders that exempted tariffs on goods and services that are compliant with the United States-Mexico-Canada Agreement, or USMCA, for nearly month just days after the levies were imposed.

The exemption from the 25% import duties on Mexico and Canada goods, which went into effect on Tuesday, expire on April 2. The tariffs, however, will still apply to about 50% of Mexican goods and more than 60% Canadian goods that aren't complaint with the USMCA.

“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,” Trump wrote on Truth social on Thursday, after a phone conversation with the Mexican president. He said the tariffs would be delayed until April 2.

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