Latest news with #UnitedStates-Canada-MexicoAgreement
Toronto Star
a day ago
- Business
- Toronto Star
Mark Carney should shift our U.S. negotiation strategy to focus on this one can't-lose deal
U.S. President Donald Trump made clear on Friday that his administration hasn't been focused on reaching a tariff deal with Canada. This explains Prime Minister Mark Carney's desire to manage expectations as the clock runs out on the Aug. 1 deadline. Our government is to be commended for its efforts to secure tariff relief, and should work with impacted sectors, but the time's come for Canada to shift our strategy to preserving and extending the United States-Canada-Mexico Agreement (USMCA).
Toronto Star
a day ago
- Business
- Toronto Star
Why Mark Carney must make a new USMCA deal a priority
U.S. President Donald Trump made clear on Friday that his administration hasn't been focused on reaching a tariff deal with Canada. This explains Prime Minister Mark Carney's desire to manage expectations as the clock runs out on the Aug. 1 deadline. Our government is to be commended for its efforts to secure tariff relief, and should work with impacted sectors, but the time's come for Canada to shift our strategy to preserving and extending the United States-Canada-Mexico Agreement (USMCA).
Yahoo
10-04-2025
- Automotive
- Yahoo
EU delays US tariffs for 90 days following Trump's pause
The European Union will match the Trump administration's 90-day pause on tariffs, delaying duties on $22 billion worth of U.S. products. Trump's new 10% baseline tariff on trade partners remains in effect. The pause comes a day after the European Commission authorized retaliatory measures against the U.S. over 25% steel and aluminum tariffs imposed by President Donald Trump. The EU tariffs would have hit next Tuesday on a wide range of U.S. exports, including orange juice, soybeans, motorcycles, beauty products and more. Ursula von der Leyen, president of the European Commission, said the commission was suspending tariffs against the U.S. to pursue European Commission is the primary executive arm of the EU. 'We took note of the announcement by President Trump. We want to give negotiations a chance. While finalizing the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days. If negotiations are not satisfactory, our countermeasures will kick in,' von der Leyen said on a social media post on Thursday. Trump unveiled a broad 'reciprocal' tariff plan for all U.S. trade partners April 2, including a baseline 10% tariff on trade partners, as well as 25% tariffs on certain imported vehicles and auto parts arriving into the U.S. Trump's tariff policy went into effect at 12:01 a.m. on Wednesday, including 20% on the EU, 10% on the United Kingdom, 34% on China, 24% on Japan and 32% on Wednesday, Trump said he was pausing the reciprocal tariffs and dropped duties under his new trade plan to 10% on imports from most countries for 90 days. Trump also said in a social media post on Wednesday that he was raising tariffs imposed on imports from China to 125%, hours after China boosted the duty on American goods to 84%. Trump's 90-day pause does not include the 25% duties on imported cars and auto parts, as well as steel and aluminum, which also remain under a 25% import tax that began April 2. In February, Trump launched 25% tariffs on imports from Mexico and Canada, citing fentanyl and illegal immigration as justifications. However, goods covered by the United States-Canada-Mexico Agreement will be exempt from tariffs, while products that aren't exempt under the trade deal will still have a 25% duty. Canadian energy and fertilizer products will have a 10% levy. The post EU delays US tariffs for 90 days following Trump's pause appeared first on FreightWaves.
