Feb 3, 2025 – The 25% US tariffs on Canadian goods set to be implemented tomorrow (February 4) have been put on a one-month pause following a meeting between US President Donald Trump and Canadian Prime Minister Justin Trudeau. The proposed Canadian retaliatory 25% tariffs on US goods have also been put on a one-month hold.
Canada has agreed to address the concerns raised by the US regarding fentanyl by bolstering border security with new choppers, technology and personnel, and enhanced coordination between the US and Canada.
As noted earlier today, following a conversation between US President Donald Trump and Mexico President Claudia Sheinbaum, an agreement has been made to pause the proposed 25% tariffs on goods imported to the US from Mexico. This one-month delay comes following the agreement from Mexico to provide 10,000 Mexican soldiers at the border to address concerns about the flow of fentanyl and illegal migrants into the US. During the one-month pause on tariffs that were to be implemented on February 4, discussions will continue between the US and Mexico.
Buckland will continue to monitor this situation as it evolves and will provide updates as details become available.