WASHINGTON – President Donald Trump suspended on March 6 the 25 per cent tariffs he imposed this week on most goods from Canada and Mexico, the latest twist in a fluctuating trade policy that has whipsawed financial markets and fanned worries over inflation and a growth slowdown.
The exemptions, covering the two largest US trading partners, expire on April 2 when Mr Trump has threatened to impose a global regime of reciprocal tariffs on all US trading partners.
Mr Trump had imposed a 25 per cent levy on imports from both on March 4 and had mentioned an exemption only for Mexico earlier on March 6, but the amendment he signed on March 6 afternoon covered Canada as well.
The three countries are partners in a North American trade pact.
For Canada, the amended order also excludes duties on potash, a critical fertiliser for US farmers, but does not fully …