Trump tariffs: Mexico given month-long reprieve happymamay

US President Donald Trump said Mexico will not be required to pay customs duties on goods that are subject to the trade agreement between the two countries and Canada until April 2.

Trump has not confirmed whether the suspension also applies to Canada, but his northern neighbor is expected to be exempted from the “nature itself”.

The last step is the second climbing in two days of Trump on his definitions.

On Wednesday he said he would temporarily Car makers of import taxes of 25 % just one day after they entered into force.

Trade Minister Howard Lootnik told CNBC earlier on Thursday that the temporary exemption of the winding tariffs of the car part of Canada and Mexico can extend to all products that form part of the USA and Canada Agreement (USMCA).

USMCA was established during the first Trump term. It covered 34 dairy and wood cars and wood products from among other things such as financial services, and the agreement included a review every six years.

On Thursday, Trump wrote on the social truth that Mexico would be exempted until April 2.

“After talking to President Claudia Xinbum from Mexico, I agreed that Mexico will not be asked to pay customs duties on anything that falls under the USMCA agreement,” he said.

Shenbum said that she had an “excellent and respectable” invitation with Trump, adding that the two countries would work together to stop the flow of opiates from Mexico to the United States and block weapons trafficking in the other direction.

Canadian Prime Minister Justin Trudeau said that Lootnick’s comments indicate that the stopping of goods under USMCA can also advance to Canada that was “promising”, in statements to reporters.

An exemption from Canada is expected to be announced later, although Trump attacks Trudeau on social media in the last hour by saying he had “a terrible job” of Canada.

But Doug Ford, Prime Minister of Ontario, told CNN that the province will continue to target 25 % on the electricity provided by 1.5 million homes and companies in New York, Michigan and Minnesota from Monday.

USMCA was signed in 2020 after years of negotiations and reviews. The renewal of the North American Free Trade Agreement, which was established in 1994.

The goods worth billions cross the borders of the United States, Canada and Mexico every day and their economies deeply integrated.

The introduction of definitions sparked a trade war between the United States and its neighbors, as well as China.

Trump has argued by introducing customs tariffs to protect the American industry and enhance manufacturing. However, many economists warn of definitions that may lead to high prices for consumers in the United States.

Customs duties are paid by business that imports a product or part. Many American companies have raised concerns about the customs tariffs from the closest commercial partners in America, given the integrated supply chains.

In response to the 25 % Trump tariff, Canada and Mexico also announced revenge imports.

Earlier on Thursday, the Ministry of Commerce revealed that US imports rose in January on the back of the tariffs.

She said that the trade deficit of America increased by 34 % to more than 130 billion dollars (100 billion pounds), with the increase in the month’s imports by 10 %.