U.S. President Donald Trump has signaled April 2 as the new date for imposing steep tariffs on Mexican and Canadian imports, delaying the previous March 4 deadline. Speaking at a cabinet meeting, Trump mentioned a 25% "reciprocal" tariff on European cars and goods, citing trade imbalances.
A White House official clarified that the March 4 deadline remains in effect "as of now," pending Mexico and Canada’s efforts to curb illegal migration and fentanyl flow. Trump's remarks caused fluctuations in the Canadian dollar and Mexican peso. Canadian Innovation Minister Francois-Philippe Champagne stated that Canada would await official confirmation before responding but warned of a "firm response" if tariffs are enacted.
Mexico’s Economy Minister Marcelo Ebrard is set to meet with U.S. officials, including newly confirmed U.S. Trade Representative (USTR) Jamieson Greer and Commerce Secretary Howard Lutnick, to discuss trade concerns. Lutnick noted a temporary 30-day pause on fentanyl-related measures while reaffirming the broader April 2 tariff timeline.
Trump also emphasized his plan to impose 25% duties on European imports, criticizing EU policies that he claims disadvantage U.S. businesses. The European Commission warned of immediate countermeasures against any unjustified tariffs.
The U.S. Senate confirmed Greer as USTR in a 56-43 vote. Greer aims to renegotiate the U.S.-Mexico-Canada Agreement (USMCA) to prevent China from exploiting loopholes. His priority includes tightening rules on automotive content to protect U.S. industries.
Trump's tariff stance continues to shake global trade relations, with potential economic impacts on key U.S. partners.