The Financial Comet
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

The Financial Comet

Politics

Trump to put tariff exemptions on certain goods from Canada, Mexico

by admin March 7, 2025
March 7, 2025
Trump to put tariff exemptions on certain goods from Canada, Mexico

President Trump on Thursday exempted most goods from Canada and Mexico covered under the U.S.-Mexico-Canada Agreement (USMCA) from his 25% tariffs for the next month.

The tariffs went into effect earlier this week and will now be reinstated April 2. 

On Tuesday, Trump imposed the 25% tariffs on the United States’ largest trading partners. 

‘If you are the administration and are trying to achieve — the outcomes they are trying to achieve, refused fentanyl, lower border crossings — these are a tool in the arsenal,’ Dan Greenhouse of Solus Alternative Asset Management told Fox News Thursday. 

Doug Holtz-Eakin, the president of the American Action Forum, didn’t agree. 

He told Fox News, ‘In the end, we’ve got taxes on American consumers and businesses. Those taxes are substantial. I think people underappreciate that this round taken at face value would be roughly four times larger than anything he did in his first presidency. The impacts would be substantial.’

Holtz-Eakin said it would add to inflation and slow economic growth.

‘Those are not things that the American people want,’ he said.  

Canada said earlier this week it will issue 25% retaliatory tariffs. 

A Canadian source told Reuters the country wouldn’t respond until it had seen the entirety of Trump’s amended tariff order. 

Trump announced the tariffs on his first day in office in January after declaring fentanyl deaths a national emergency. He said the drug makes its way from China to the U.S. via Mexican and Canadian imports. 

‘I can confirm that we will continue to be in a trade war that was launched by the United States for the foreseeable future,’ Canadian Prime Minister Justin Trudeau, who will step down Sunday, told reporters Thursday. 

Trump has also imposed a 20% tariff on all Chinese goods. 

Trump had mentioned an exemption for Mexico earlier Thursday, but the new amendment also covers Canada. 

‘After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement,’ Trump wrote Thursday before including Canada in the exemption.

‘This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum. Our relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl. Thank you to President Sheinbaum for your hard work and cooperation!’ 

Reuters contributed to this report. 

This post appeared first on FOX NEWS

previous post
GOP senator reveals strategy to push Trump’s policies through Congress: ‘I believe in the agenda’
next post
What does King Charles listen to? Kylie Minogue and RAYE, according to his Apple Music playlist

Related Posts

Kash Patel hammers ‘grotesque mischaracterizations’ from Dems amid...

January 31, 2025

US must stand up to terrorists and we...

March 28, 2025

Pennsylvania man charged with threatening Trump, ICE agents,...

April 12, 2025

Trans star of hit HBO series says renewed...

February 24, 2025

Former FBI Director James Comey meets with Secret...

May 17, 2025

Dem senators rip GOP’s ‘Silence of the Lambs’...

April 30, 2025

Small businesses barely survived Biden. They can’t wait...

March 14, 2025

Trump envoy Witkoff seeking ‘extension’ of Phase 1...

February 24, 2025

Huge healthcare data breach exposes over 1 million...

February 9, 2025

Bondi, Trump Cabinet convenes task force to root...

April 23, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Trump re-designates Iranian-backed Houthis as terrorists: ‘Threaten[s] security of American civilians’

      January 23, 2025
    • 2

      DeepSeek hit with large-scale cyberattack, says it’s limiting registrations

      January 28, 2025
    • 3

      Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

      January 23, 2025
    • 4

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • 5

      Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

      January 27, 2025
    • 6

      UnitedHealthcare taps company veteran Tim Noel as new CEO following Brian Thompson killing

      January 27, 2025
    • 7

      Lara Trump to host weekend show on Fox News

      February 7, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: thefinancialcomet.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 thefinancialcomet.com | All Rights Reserved