On February 3, 2025, President Trump paused the new 25% tariffs on imports from Canada and Mexico for 30 days and warned about increased duties on imports from China.
In our blog post yesterday, Michael House discussed the three executive orders issued by President Trump last Saturday imposing new 25% tariffs on imports from Canada and Mexico and a new 10% tariff on imports from China (on top of the existing 7.5% to 25% tariff on most imports from China).
Pursuant to last-minute deals between President Trump and President Claudia Sheinbaum of Mexico and Prime Minister Justin Trudeau of Canada, President Trump has agreed to “pause” the effect of the new 25% tariffs for at least 30 days—i.e., until March 6, 2025. Mexico and Canada have likewise promised to pause any retaliatory tariffs.
Separately, President Trump stated yesterday that the new 10% tariff on imports from China was “just an opening salvo” and promised a “very, very substantial” increase of the tariffs on China if his administration could not reach a new trade deal with President Xi Jinping.
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