Trump Delays Tariffs on Canadian, Mexican Imports, Promises Future Action
On his first day in office, President Trump opted against immediate tariffs but indicated a review of trade policies involving Canada and Mexico is coming soon.
Overview
On his inaugural day, President Trump refrained from imposing immediate tariffs on imports from Canada and Mexico, opting for a review instead. This decision relieved Canadian leaders, who expressed cautious optimism. Trump announced plans for a new External Revenue Service to collect upcoming tariffs, hinting at a potential 25% tariff on these imports starting February 1 unless border issues are addressed. Experts warn this could significantly impact consumers and the economies of both nations. The Canadian government remains vigilant, preparing retaliatory measures and emphasizing trade interdependence with the U.S.
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