Trump Extends Tariff Exemptions for Canada and Mexico Under USMCA Until April 2

President Donald Trump has extended tariff exemptions for certain Canadian and Mexican products covered under the United States-Mexico-Canada Agreement (USMCA) until April 2. This decision follows initial concerns about the impact of tariffs on markets, businesses, and consumers. The exemptions apply to goods meeting the USMCA's requirements. Trump cited positive relations and cooperation with Mexico, particularly regarding border security and fentanyl prevention, following a conversation with Mexican President Claudia Sheinbaum. Canada is also expected to receive similar exemptions, though tensions remain regarding overall trade policy. The IMF has warned that sustained tariffs could have a significant adverse economic impact on Canada and Mexico. Reciprocal tariffs, imposing the same level of customs duties on each country's goods, are scheduled to take effect on April 2.