Donald Trump was seen in action since assuming the US presidency on January 20 this year. Let us tell you that there has not been a single day in the last 45 days when Trump and his administration have not used the word tariff. Due to this, he also threatened tariff war to his neighboring countries Canada and Mexico. But now gradually his stance is softening. On Thursday, he first announced exemption from tariff to Mexico and then to Canada. In fact, during the ongoing tariff war between America and Canada, Canada has refused to remove its retaliatory tariff despite the exemption given by America. On Thursday, a senior Canadian government official said that President Donald Trump has postponed the 25 percent tariff imposed on goods imported from Canada for a month, but despite this, the retaliatory tariff imposed by Canada on America will still remain effective. During this, Canada alleged that “President Trump created uncertainty and chaos as part of a well-planned strategy by first imposing tariffs and then removing them. Attempts are being made to harm their economy.
The 25 percent tariff on products imported from Canada and Mexico was postponed for a month (Trump softens stance).
In fact, Trump had postponed the 25 percent tariff imposed on most products imported from Canada and Mexico for a month (Trump softens stance). However, a Canadian official made it clear that their retaliatory tariffs imposed against the US will still remain in force. These tariffs are worth about $30 billion (US$21 billion) and include American orange juice, peanut butter, coffee, shoes, cosmetics, motorcycles and some types of paper products. Let us tell you that US President Donald Trump announced before signing the orders that “most of the tariffs will be effective from April 2. At present, some temporary and small tariffs are in force.” However, in the meantime, Trump also clarified that “he is not considering extending the exemption in 25 percent tariff on automobiles for another month.” According to Trump’s orders, imports from Mexico will be exempted from 25 percent tariff for one month under the (USMCA) trade agreement signed in 2020. According to the information, auto-related imports from Canada, which follow the rules of the trade agreement. They will be exempted from 25 percent tariff for one month. At the same time, a 10 percent tariff will be imposed on potash imported by American farmers from Canada. Let us tell you that this is the same rate at which Trump wants to impose duty on Canadian energy products.
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New tariffs can still be imposed on about 62 percent of imports from Canada (Trump softens stance)
According to the White House official, new tariffs can still be imposed on about 62 percent of imports from Canada (Trump softens stance). The reason behind this is that they are not in line with the standards of the USMCA agreement. Similarly, imports from Mexico Taxes will also be imposed on imported products that are not in line with the USMCA, as stated in Trump’s orders. On Tuesday, Trump started a new trade conflict by imposing tariffs on America’s three major trading partners, Canada, Mexico and China, in response to which these countries also responded. What happened next was that this caused turmoil in the financial markets. Well, meanwhile, Canadian Prime Minister Justin Trudeau said on Thursday that “the President’s imposition of tariffs and then removing them is having a negative impact on our economy, increasing uncertainty and chaos.” During this, he stressed that “Canada is unhappy with this situation and will ensure that the American public realizes this.” However, meanwhile Trudeau also hoped that the trade war between Canada and the US will continue in the near future.” Well, the effect of this was that the markets opened with a decline in the New York Stock Exchange on Thursday. American investors are nervous about Trump’s tariff policy.
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