Article by: Rick Walker, Vice President – TradeInsights, LCB/CCS

President Trump said on Wednesday that his proposed tariffs on imports from Canada and Mexico will now take effect next Tuesday, March 4th − and he intends to double the 10% duties on goods from China that are currently in place. You may remember that Trump had paused the sweeping 25% tariffs on Mexico and Canada earlier this month in exchange for agreements on border security from both countries. But yesterday, in a post on Truth Social, he said, “Drugs are still pouring into our Country from Mexico and Canada at very high and acceptable levels,” adding that a large percentage of fentanyl and other drugs are made in China.

In addition to moving ahead on the tariffs on Canada and Mexico, Trump said he will charge China an additional 10% tariff on top of the 10% tariff he announced on Chinese imports this month.

Mexican President Claudia Sheinbaum said Thursday that she hoped to speak with Trump after the Cabinet-level meetings occurring in Washington this week. Mexico’s Foreign Affairs Secretary Juan Ramón de la Fuente was scheduled to meet with Secretary of State Marco Rubio this afternoon.

Asked on Wednesday about the tariffs deadline, François-Philippe Champagne, Canada’s industry minister, said the government was taking a wait-and-see approach. “One thing we have learned is to take it step by step,” he said, adding that, should Trump move forward, Canada is “prepared, and there’ll be a targeted, strategic but a firm response.”

Today, China’s Commerce Minister Wang Wentao wrote to Jamieson Greer, the newly confirmed U.S. trade representative, that differences on trade should be resolved through dialogues and negotiations.

We will continue to monitor this situation and provide updates when available.

Please contact your V. Alexander account team, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions.