February 26, 2025. Recent statements from the U.S. administration have introduced uncertainty regarding tariffs on Canadian and Mexican imports, with possible implementation on either March 4 or April 2. Additionally, a 25% tariff on European cars and other goods has been proposed as part of the administration’s approach to trade policy.
Key Developments:
- President Trump indicated that tariffs on Canada and Mexico could take effect on April 2, though a White House official confirmed that the March 4 deadline remains in place unless an extension is granted.
- These tariffs are linked to ongoing discussions on border security and measures to curb fentanyl-related trade. A 30-day review period will determine whether further delays or adjustments are made.
- A 25% tariff on European imports, particularly automobiles, has been proposed, with further details expected soon.
- The U.S. Senate has confirmed Jamieson Greer as the new U.S. Trade Representative, with a stated focus on reviewing the U.S.-Mexico-Canada Agreement (USMCA) and potential adjustments to content rules for key industries.
Buckland is closely monitoring these developments and is available to support clients in navigating the evolving trade landscape. For more information, contact your Buckland representative.