Mexico and Canada Additional Duties Postponement Has Not Yet Been Extended
The postponement of additional tariffs to be assessed against Canada and Mexico was postponed until March 4, 2025. Early in the week, President Trump had said that he was planning to extend the postponement of duty assessments, but yesterday he announced that the additional duties will be effective on March 4, 2025. This is while negotiations with Mexico and Canada are still going on. He also stated that the existing China tariffs will be increased from 10% to 20% too. We have seen no written directives yet, but will watch for something this weekend, for written directions or if anything changes.