Tariff Man: Week Seven

President Donald Trump has imposed tariffs of 25% on Mexican goods and non-energy products from Canada, 10% on Canadian energy, and an additional 10% on Chinese goods.  Then Thursday he suspended actions on USMCA eligible goods for 30 days.

In response, Canada has enacted its first round of retaliatory tariffs on a pre-announced list of U.S. products. Ottawa says it is considering additional retaliatory measures, including non-tariff options and has launched disputes proceedings at the World Trade Organization and via the USMCA system. 

The White House has also granted a 30-day reprieve for automakers following a joint appeal by the CEOs of GM, Ford, and Stellantis. Experts note building auto and parts production capacity to replace Canadian imports will take "maybe two to three years.”