Brief by Shorts91NewsDesk / 05:47am on 07 Mar 2025,Friday Business
U.S. President Donald Trump has temporarily suspended the 25% tariffs imposed earlier this week on most goods from Canada and Mexico, granting a reprieve until April 2. This decision aims to alleviate market instability and concerns over inflation and economic growth. The exemptions cover products compliant with the United States-Mexico-Canada Agreement (USMCA), reflecting the administration's acknowledgment of efforts by both nations to address issues like fentanyl trafficking. In response, Canada has postponed a planned second wave of retaliatory tariffs on $125 billion worth of U.S. products. Discussions among the three countries continue as they navigate the complexities of the current trade environment.
