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Latest On Tariffs, China, Canada, Mexico
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Below is scheduled to be published in the Federal Register on February 5th, These two are the unpublished versions, but unlikely to change by tomorrow.
CBP Unpublished Federal Register notices to implement tariffs on: China and Canada
Federal Register :: Public Inspection: Implementation of Additional Duties on Products of Canada
Summary of Additional Duties
- Additional Duty goes into effect for goods entered into consumption after February 4, 12:01 EST. In-transit goods loaded as of February 1, 12:01 EST will not be subject to additional duties if entered into consumption by March 7, 12:01 EST.
- De Minimus Exemption removed for affected goods. Formal entry now required for all mail shipments regardless of value.
- No Duty Drawback allowed on the additional duties.
China
- There is no indication President Trump is scheduled to speak with President Xi. Absent an agreement, the additional tariffs will proceed.
Canada
- On February 3, 2025, President Trump and Prime Minister Trudeau have agreed to pause the anticipated tariff increases for one month for Canada to implement a $1.3 Billion border plan and a $200 million intelligence directive targeting organized crime and fentanyl.
Mexico
- On February 3, 2025, President Trump and President Sheinbaum of Mexico have agreed to pause the anticipated tariff increases for one month on the tentative agreement that Mexico will send 10,000 soldiers to the border to stop the flow of fentanyl and illegal immigrants into the United States.
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Trump agrees to pause tariffs on Canada and Mexico after they pledge to boost border enforcement
apnews.com
WASHINGTON (AP) — President Donald Trump on Monday agreed to a 30-day pause on his tariff threats against Mexico and Canada as America’s two largest trading partners took steps to appease his concerns about border security and drug trafficking.
The pauses provide a cool-down period after a tumultuous few days that put North America on the cusp of a trade war that risked crushing economic growth, causing prices to soar and ending two of the United States’ most critical partnerships.
“I am very pleased with this initial outcome, and the Tariffs announced on Saturday will be paused for a 30 day period to see whether or not a final Economic deal with Canada can be structured,” Trump posted on social media. “FAIRNESS FOR ALL!”
Canadian Prime Minister Justin Trudeau posted Monday afternoon on X that the pause would occur “while we work together,” saying that his government would name a fentanyl czar, list Mexican cartels as terrorist groups and launch a “Canada-U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering.”
The pause followed a similar move with Mexico that allows for a period of negotiations over drug smuggling and illegal immigration. The 10% tariff that Trump ordered on China is still set to go into effect as scheduled on Tuesday, though Trump planned to talk with Chinese President Xi Jinping in the next few days.
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