The date marks when Washington plans to impose ‘reciprocal tariffs’ on a wide range of foreign trading partners
A line of trucks travel into Canada as a FedEx truck enters the United States at the Pacific Highway U.S.-Canadian border crossing in Blaine, Washington, on March 5.U.S. President Donald Trump granted Canada and Mexico a significant reprieve from punishing 25-per-cent tariffs until April 2, the latest shift in a constantly-changing trade policy that has kept investors and allies unsure of what comes next.
“The United States has agreed to suspend tariffs on CUSMA-compliant exports from Canada until April 2nd. As a result, Canada will not proceed with the second wave of tariffs on $125B of U.S. products until April 2nd, while we continue to work for the removal of all tariffs,” he said in a post on X. April 2 however is when the Trump administration plans another wave of tariffs on trading partners. It’s not clear whether the 25 per cent duties that are paused until then will layer on top of whatever Washington announces in April. The Trump administration says that’s when it plans to impose “reciprocal tariffs” on a wide range of countries to match any taxes or duties or barriers these jurisdictions levy and which the White House deems unfair treatment of U.S. companies.
Matthew Holmes, chief of public policy for the Canadian Chamber of Commerce, said every day of unimpeded trade is a “good day for Canada.” Mr. Trump’s evolving tariff threats have created significant uncertainty for Canadian businesses that export their goods to the U.S., with ethe rules changing by the day.
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