News

According to recent reports, all products covered by the United States–Mexico–Canada Agreement have been exempted from tariffs until April 2.

By: Brad Randall, Broadband Communities

Confusion around President Donald Trump’s tariff announcements again rocked Wall Street Thursday as the United States announced a delay in most tariffs on Canada and Mexico until April 2.

The delay, reported on by publications like CNN, will impact products covered under the United States–Mexico–Canada Agreement, also known as the USMCA.

According to CNN, a White House official clarified Thursday that 50 percent of imports from Mexico and 36 percent of imports from Canada are covered under the USMCA.

The news came as Trump publicly warned that so-called reciprocal tariff announcements expected on April 2 could be “much more significant.”

He also blamed market volatility on “globalist countries and companies that won’t be doing as well because we’re taking back things that have been taken from us many years ago,” in remarks to reporters in the Oval Office on Thursday.

“We don’t need trees from Canada, we don’t need cars from Canada, we don’t need energy from Canada, we don’t need anything from Canada,” he said.

According to BBC News, the president also warned automakers not to seek another one-month exemption and confirmed that steel and aluminum tariffs will go forward next week.

Also on Thursday, Scott Bessent, the U.S. Treasury Secretary, gave a glimpse at what tariffs against the United Kingdom and Europe could look like while speaking in New York, BBC News reported.

According to the report, Bessent’s comments centered around taxes that Europe and the United Kingdom have imposed on tech firms.

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