Trump pauses tariffs for some nations, no changes for Canada and Mexico

U.S. President Donald Trump has announced a 90-day suspension of tariffs on most countries.

In a social media post Wednesday, Trump shared details of the temporary pause and a lower 10 per cent “reciprocal” tariff, following a period of market instability sparked by his trade disputes with global partners.

There was initially confusion resulting from a U.S. official claiming Canada would be subject to the baseline 10 per cent tariff. Now, the White House confirms Canada will be exempt.

However, Canada continues to face U.S. duties on vehicles, steel, and aluminum, as well as the ongoing threat of potential tariffs related to fentanyl.

In retaliation to the U.S. auto tariffs, Canada announced similar duties on American-made vehicles. But unlike the U.S. measures, Canada’s tariffs do not apply to auto parts or vehicles from Mexico.

The president also criticized China for what he described as a “lack of respect” and revealed plans to increase tariffs on Chinese imports to 125 per cent, effective immediately.

WATCH MORE: Canadian counter-tariffs on U.S. imported cars begin today