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Balanced Reporting. Trusted Insights.
Monday, April 07, 2025
President Donald Trump postponed tariffs for products arriving from Mexico and Canada that are covered by a North American trade pact by a month, while lowering the duty to be applied to potash imports.
China slaps new tariffs on a raft of U.S. agriculture and food exports following new duties. Canada implements the first step of its two-step retaliation plan, while Lutnick teases a potential deal with the U.S.' neighbors.
President Donald Trump told reporters on Wednesday that new tariffs on Mexico and Canada would go into effect April 2, almost a month later than anticipated, but White House officials later walked it back, insisting the March 4 date still holds.
Ottawa and Beijing have unveiled their opening salvos in retaliation to Trump's tariffs and threats. While ag features prominently in both countries’ tariff lists, the responses are measured, analysts say.
Canada will meet new 25% U.S. tariffs by adopting equivalent duties on $155 billion of U.S. goods, including a slate of agricultural products. Mexico is proceeding with its own retaliation.
Figures from across the agriculture industry have responded to President-elect Trump’s pick for U.S. trade representative, Jamieson Greer, by pushing him to pursue new market access opportunities for American farmers.
Mexican President Claudia Sheinbaum touted efforts to substitute Chinese imports with locally produced alternatives and downplayed comments from Canadian policymakers that raised questions over Mexico’s future in a North American trade pact.
Democratic leaders are pushing for House passage of President Joe Biden’s package of social and climate spending priorities this week, while the Senate is set to debate an Agriculture Department nominee who will be key to carrying out the administration's climate policy.
The U.S.-Mexico-Canada trade agreement will take two major steps this week when President Donald Trump signs the U.S. implementing bill into law and Canada starts work on its companion legislation.
