A White Home truth sheet says that Canada and Mexico are exempt from the brand new reciprocal tariffs introduced at present by U.S. President Donald Trump.
The doc says items imported below the prevailing continental commerce deal is not going to face tariffs, whereas others will see a ten per cent tariff.
Trump says he plans to proceed with a 25 per cent tariff on all foreign-made cars.
Trump held up a chart whereas talking, exhibiting america would cost a 34 per cent tax on imports from China, a 20 per cent tax on imports from the European Union, 25 per cent on South Korea, 24 per cent on Japan and 32 per cent on Taiwan.
Right here’s the most recent:
Senate passes decision that might thwart Trump’s potential to impose tariffs on Canada – 7:45 p.m. ET
The decision delivers the president a uncommon rebuke simply hours after he unveiled sweeping plans to clamp down on worldwide commerce. It could finish the presidential emergency declaration on fentanyl that underpins tariffs on Canada.
The laws has little probability of passing the Republican-controlled Home and being signed by Trump, but it surely reveals the boundaries of Republican help for Trump’s imaginative and prescient of remaking the U.S. economic system by proscribing free commerce.
The Related Press
Prime Minister Mark Carney says Trump’s tariffs will basically change world buying and selling system – 7:10 p.m. ET
Prime Minister Mark Carney says U.S. President Donald Trump’s tariff regime will “basically change the worldwide buying and selling system.”
Carney, who’s assembly along with his cupboard committee on Canada-U.S. relations in Ottawa, says Canada will struggle American tariffs with countermeasures after the nation was excluded from a listing of latest reciprocal tariffs introduced by Trump at present.
The Canadian Press
Canada and Mexico not on reciprocal checklist – 5:30 p.m. ET
A White Home truth sheet clarifies that Canada and Mexico aren’t topic to the reciprocal tariff order outlined by U.S. President Trump.
“For Canada and Mexico, the prevailing fentanyl/migration IEEPA orders stay in impact, and are unaffected by this order. This implies USMCA compliant items will proceed to see a 0% tariff, non-USMCA compliant items will see a 25% tariff, and non-USMCA compliant power and potash will see a ten% tariff. Within the occasion the prevailing fentanyl/migration IEEPA orders are terminated, USMCA compliant items would proceed to obtain preferential therapy, whereas non-USMCA compliant items can be topic to a 12% reciprocal tariff.”
CityNews
Ford says ‘optimistic signal’ Canada not on checklist seen – 5:16 p.m. ET
Ontario Premier Doug Ford referred to as it a “optimistic signal” that Canada was not on the reciprocal tariff checklist produced by U.S. President Donald Trump throughout his announcement. Nevertheless, when pressed by reporters at Queen’s Park, Ford couldn’t or wouldn’t say what Canada is definitely going through by way of tariffs.
“The optimistic factor that I noticed was we weren’t on that checklist,” Ford mentioned.
CityNews
International locations to get charged ‘type tariffs’ – 4:54 p.m. ET
Trump says the U.S. will cost discounted reciprocal tariffs for a lot of international locations, most getting half off what they cost, calling them “type tariffs.”
“If you would like your tariff price to be zero then you definitely construct your product proper in America.”
Canada and Mexico aren’t topic to reciprocal tariffs, persevering with USMCA exemptions, in keeping with numerous studies. The Canadian greenback ended at a late-day excessive of 70.25 cents U.S.
CityNews and Mike Eppel
Trump says U.S farmers ‘brutalized’ by Canadian dairy trade – 4:36 p.m. ET
Trump says U.S. farmers are being “brutalized” by Canada’s dairy trade.
“Canada by the best way imposes a 250 to 300 per cent tariff on a lot of our dairy merchandise. They do the primary little carton of milk at a low worth after which it will get as much as 275, 300 per cent.”
“We can not pay the deficits of Canada and Mexico and all these different international locations.”
“We have now to handle our folks and we’re going to handle our folks first.”
The Worldwide Dairy Meals Affiliation (IDFA) revealed a assertion on March 7, saying the U.S. “has by no means gotten near exceeding” the quotas which might set off these dairy tariffs.
CityNews
Truth Examine: Canada commerce deficit not $200B – 4:28 p.m. ET
Canada’s commerce deficit with the U.S. is NOT practically $200 billion because the President claims.
In reality the US Commerce Consultant’s workplace places the quantity at $63 billion.
The explanation for the deficit is that the US buys plenty of our oil, pure gasoline and power.
Cormac Mac Sweeney
Trump indicators order for reciprocal tariffs “they do it to us, we do it to them” – 4:16 p.m. ET
President Donald Trump says as of midnight, america is imposing 25 per cent tariffs on all international made cars. There was no indication if Canada or different international locations can be exempted.
“For many years our nation has been looted, pillaged, raped and plundered by nations close to and much, each pal and foe alike,” mentioned Trump.
“Now it’s our flip to prosper.”
“Jobs and factories will come roaring again to our nation and also you’re seeing it taking place already. We’ll supercharge our home industrial base, we’ll pry open international markets and break down international commerce boundaries, and finally extra manufacturing at dwelling will imply stronger competitors and decrease costs for shoppers. This will probably be certainly the Golden Age of America.”
“For many years america slashed our commerce boundaries on different international locations whereas these nations positioned huge tariffs on our merchandise and created non-montetary boundaries to decimate our industries … This all occurred with no response from america of America, however these days are over.”
“Such horrendous imbalances have devastated our industrial base and put our nationwide safety in danger.”
“Efficient at midnight, we’ll impose a 25 per cent tariff on all international made cars.”
CityNews
Timeline of Donald Trump’s commerce battle with Canada
For over a 12 months earlier than the November 2024 presidential election, Donald Trump had been signalling he deliberate to impose across-the-board tariffs if he gained america presidency.
Right here’s a timeline of the important thing dates in Trump’s tariff journey after he was elected president.
The Related Press
May Canada and the U.S. strike a zero-tariff deal?
Ontario Premier Doug Ford mentioned he spoke with Prime Minister Mark Carney about that prospect on Wednesday morning forward of President Donald Trump’s ominous Liberation Day announcement on sweeping new tariffs.
Ford steered that Carney instructed him a zero-tariff scenario was potential if Trump agreed to drop all tariffs.
“I had a dialog with the Prime Minister this morning, and I can inform you one factor, if he (Trump) dropped all of the tariffs, we’d have zero tariffs,” Ford mentioned
CityNews
Firms getting ready for tariff turbulence
Impending U.S. tariffs have pushed Canadian firms to stockpile items, in the reduction of workers, put initiatives on maintain and no matter else they suppose will assist them survive the financial turmoil forward.
For industries that depend on exports to the U.S., tariffs may very well be a serious hit as clients south of the border could select to purchase fewer items or change to U.S. alternate options.
The Canadian Press
