Trump administration backs down on 50 percent tariffs for Canada following Canadian concessions on power price hikes
Following earlier reports that the Trump administration would impose doubled 50 percent tariffs on Canadian exports of steel and aluminum in reaction to an earlier decision by the Canadian government to impose 25 percent increases in electricity prices to Michigan, Minnesota and New York, administration officials said later today that US will drop the additional tariffs against Canada, defaulting to the original 25 percent tax on metals scheduled... Read More
EU lowers import quota volumes, introduces new quota caps
The European Commission has announced the findings of its functioning review of the safeguard measure on imports of certain steel products initiated on December 17, 2024, and has made adjustments to the measures. The commission has decreased the tariff-rate quota volumes for some products by lowering the liberalization rate to 0.1 percent from the current one percent to ensure the effectiveness of the measure. The EU’s safeguard measures will still... Read More
Trump administration doubles tariffs against Canada to 50 percent effective March 12
The Trump administration announced a doubling of import tariffs on Canadian steel and aluminum to 50 percent effective tomorrow, March 12, in reaction to a decision by Ontario’s government to slap a 25 percent tax on electricity exports to the US, President Trump said in extensive remarks on his social media platform Truth Social. “Based on Ontario, Canada, placing a 25 percent tariff on electricity coming into the United States, I have instructed... Read More
Trump administration’s Canada tariff policy on goods covered under USMCA to be delayed
Following today’s reversal on 25 percent tariffs levied against Mexico March 4, reports indicate the Trump administration has now delayed the implementation of 25 percent tariffs on Canada for its exported products covered under the previous USMCA agreement until April 2. On April 2, the Trump administration plans to begin in-kind reciprocal tariffs against all countries taxing the import of US goods. The rates, products and countries affected by... Read More
US tariffs on Mexico delayed
The Trump administration said it will will delay the enforcement of 25 percent tariffs on Mexico for four weeks, the US leader said March 6 on his Truth Social platform. President Trump implied in his social media post that the reason for the policy shift was rooted more on actions Mexico has recently taken to enforce better border security. After speaking with Claudia Sheinbaum of Mexico, I have agreed that Mexico will not have to pay tariffs on... Read More
US officially slaps tariffs on Canada and Mexico, doubles tariffs on China
The US government has officially implemented 25 percent tariffs on all imports from its two leading trading partners Canada and Mexico as of today, March 4, according to a statement made by the White House. Also, energy imports from Canada will be subject to 10 percent tariffs. In early February this year, while postponing the tariffs in question, US President Donald Trump gave the Canadian and Mexican administrations 30 days to curb what he described... Read More
Trump announces 25% tariff on steel and aluminum imports
US President Donald Trump has announced 25 percent tariffs on foreign steel and aluminum imports on Monday, February 10. Trump stated that the tariffs, which will apply to the products from trading partners with duty-free exemptions or tariff-rate quota deals, including Canada, Mexico, Australia, Argentina, Brazil, South Korea, the EU, Japan and the UK, will be effective as of March 12, 2025. However, a White House official subsequently stated that... Read More
Trump postpones tariffs on Canada and Mexico for 30 days
US President Donald Trump has stated via social media that he has decided to postpone the recently announced additional 25 percent tariffs on imports from Canada and Mexico. Following the tariff announcements, Trump held conversations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, in which he expressed his concerns regarding border security. The Canadian and Mexican administrations made various commitments to... Read More
US officially imposes tariffs on Canada, Mexico and China
US President Donald Trump has imposed 25 percent additional tariffs on imports from Canada and Mexico and a 10 percent additional tariff on imports from China with the aim of ensuring national security and protecting the interests of Americans, according to a statement released by the White House. The tariffs in question will remain in force until the subject countries meet President Trump’s requirements. In the meantime should these countries... Read More
EU extends steel safeguard measures for another three years
The European Commission has announced the extension of the EU’s safeguard measures encompassing 26 steel product categories for another three years until June 30, 2024, preserving traditional trade flows on a per-product-category basis. The Commission has also increased the quota volumes by three percent, and a 25 percent tariff duty will be applied on the products if the tariff rate quotas are exceeded. There will be a review to determine whether... Read More