On Saturday, February 1st, President Donald Trump announced that he would impose a 25% tariff on Canadian (10% tariff on Canadian energy resources) and Mexican imports and a 10% tariff on imports from China.
It was recently announced that tariffs on Mexican imports will be postponed for 30 days. Mexican President Claudia Sheinbaum and President Trump have agreed to take joint measures to fight fentanyl trafficking across the U.S. border. Mexico has agreed to send 10,000 soldiers to the U.S-Mexico border to help prevent drug trafficking.
We also understand that President Trump and Canadian Prime Minister Trudeau will be meeting today at 3 p.m. ET.
If no further action is taken, tariffs on Canadian and Chinese imports will take effect at 12:01 AM Eastern Standard Time on February 4th, 2025. If you provide evidence that your goods were on a vessel or in transit by 12:01 AM ET on February 1st, then your goods will not be subject to these tariffs.
Fact Sheet: President Donald J. Trump Imposes Tariffs on Imports from Canada, Mexico and China
President Trump claims by imposing tariffs on these countries; he is holding them accountable for their promises to stop illegal immigration and prevent the flow of dangerous fentanyl and other drugs into the U.S.
Canada has announced 25% retaliatory tariffs on $155 billion worth of goods in response to the U.S.'s new tariffs. China has yet to respond, but we anticipate that they will announce retaliatory tariffs if no settlement is reached in the interim.
