On March 6, President Donald Trump announced significant adjustments to tariffs imposed on imports from Canada and Mexico earlier this week. These modifications aim to protect the American automotive industry while maintaining pressure on both countries regarding border security concerns.
The revised tariff framework now includes:
- 25% tariffs on goods that fail to satisfy U.S.-Mexico-Canada Agreement (USMCA) rules of origin
- 10% tariffs on Canadian energy products that fall outside USMCA preference
- 10% tariffs on potash imports from Canada and Mexico that don’t qualify for USMCA preference
- Zero tariffs on goods from both countries that claim and qualify for USMCA
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