President Trump made a bold move on Thursday, signing an executive order to ease tariffs on select Canadian and Mexican imports. This follows the imposition of a 25% tariff on all imports earlier in the week.
The President reinstated tariffs on Mexico, Canada, and China under the International Emergency Economic Powers Act. This decisive action aims to halt the flow of illegal immigrants and fentanyl into our great nation.
This strategic move has already resulted in nearly $2 trillion in investments flowing into U.S. manufacturing. Notably, automaker Honda announced its decision to manufacture its next-generation Civic hybrid in the United States, circumventing potential tariffs.
“Reciprocal tariffs start on April 2,” the President declared upon implementing the tariffs on Tuesday.
On Thursday, President Trump adjusted the tariffs, making exclusions for goods eligible for preferential treatment under the United States-Mexico-Canada Agreement (USMCA). This also includes tariff reductions on energy products for manufacturing and potash fertilizer for our hard-working farmers.
According to the White House:
- Duties imposed to combat illicit drug flow:
- 25% tariffs on goods not meeting USMCA rules of origin.
- 10% tariff on energy products from Canada outside USMCA preference.
- 10% tariff on potash from Canada and Mexico outside USMCA preference.
- No tariffs on goods qualifying for USMCA preference.
While the challenges at our borders persist, it is crucial that the American automotive industry, a vital source of American jobs, remains unaffected by supply chain disruptions. “It basically makes it more fair for our car manufacturers during the short-term period before April 2,” President Trump mentioned during the Thursday signing. “April 2 will be more significant, but this interim adjustment favors our American car manufacturers.”
President Trump also described his “very good” conversation with Mexican President Claudia Sheinbaum, discussing tariffs, illegal immigration, and drug trafficking.
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