OAN Staff Break Wolf
3:20pm – Wednesday, March 5th, 2025
With President Donald Trump's 25% tariffs on Mexico and Canada currently in effect, spokesman Caroline Levitt said Trump has approved a one-month exemption from car imports.
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At a press conference Wednesday, Leavitt said: A one-month exemption will be provided for vehicles coming through the USMCA (US-Mexico-Canada contract). Mutual duties will still come into effect on April 2nd. ”
Leavit's statement followed after Trump's 25% tariff came into effect Tuesday, and stock markets plummeted before the rebound.
Tariffs have been implemented to put pressure on Mexico and Canada to prevent fentanyl and other illegal drugs from being smuggled into the United States.
Customs duties encourage manufacturers to produce products domestically to avoid the high costs of customs duties.
Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Shainbaum angered vows to set the stage for a trade war and introduce their own retaliatory tariffs.
On Wednesday, President Trump provided insight into his conversation with Trudeau regarding tariffs.
“Justin Trudeau of Canada called me to ask what he could do about the tariffs. I told him that a lot of people had died in fentanyl, which had passed through the border between Canada and Mexico, and nothing convinced me that it had stopped,” he said.
“He said it was better, but I said, 'That's not enough.' The call ended in a “somewhat” friendly way! He didn't tell me when the Canadian election was taking place. Then I realized he was trying to use this issue to maintain power. Good luck Justin! ” he added.
Meanwhile, Commerce Secretary Howard Lutnick has made it clear that President Trump will be in talks with Mexico and Canada and potentially suspending some of the tariffs as long as some of his requests are met.
“There are tariffs, but let's be clear, what he's thinking is probably going to consider giving them relief in any section of the market,” Lutnick said. “The president has heard offers from Mexico and Canada. He thinks he's trying to do something in the middle. He's thinking about it. We're talking about it.”
Ratnic said he “don't want to forget anyone, April 2nd.nd It's the day we announce mutual tariffs around the world. ”
Tiffany Smith, vice-chairman of the National Council of Foreign Trade, has expressed concern about companies seeking to make logistical financial decisions amid a potentially fluid tariff war.
“While the suspension is obviously welcome, this constant “off again” tariff is challenging for businesses looking to make real-time procurement and pricing decisions. We hope that Mexico, Canada and the US can resolve the situation without relying on tariffs or threats,” Smith said.
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