Another change in U.S. tariff policy
On March 6 local time, U.S. President Donald Trump signed an amendment to the tariffs on Mexico and Canada, exempting products that comply with the United States-Mexico-Canada Agreement (USMCA) from tariffs until April 2. Trump also stated that he would not change tariff measures on steel and aluminum. In addition, regarding the exemption of 25% tariffs on automotive products imported from Mexico and Canada through the USMCA announced on March 5, Trump said that the exemption period is temporary and there will be no tariff exemption for automobiles after the expiration.
On February 1, Trump signed an executive order to impose a 25% tariff on products imported from Mexico and Canada. On February 3, Trump announced that the implementation of the tariff measures on the two countries would be postponed for 30 days and negotiations would continue. On February 10, Trump signed another executive order, announcing a 25% tariff on all steel and aluminum imported into the United States. Trump also said on the same day that there are "no exceptions and exemptions" to the relevant requirements. The above-mentioned tariff increase measures came into effect on March 4.
On March 5, White House Press Secretary Leavitt said that Trump has decided to grant a one-month tariff exemption to three major automakers, Ford, General Motors, and Stellantis, temporarily exempting 25% tariffs on automotive products imported from Mexico and Canada through the USMCA.