Latest in Trump Tariff Turmoil: US defers action on some Canadian & Mexican imports till April 2

US President Donald Trump on Thursday granted temporary tariff exemptions for Canadian and Mexican goods mentioned in the United States-Mexico-Canada Agreement (USMCA), North American trade pact. The announcement deferred tariffs on such items till April 2.

About half of America’s imports from Mexico and more than one-third of Canadian imports are listed under the trade agreement.

What happens on April 2?

The 47th US president is poised to enact reciprocal tariffs on April 2 on US trade partners that have import taxes on American goods already in place.

What is the USMCA?

Popularly known as the North American trade agreement, the USMCA is a tripartite deal that was signed during the Trump 1.0 administration. The agreement governs trade in North America.

With inputs from agencies