Responding to a question from Fox Business, "Can businesses better understand your tariff policy?", US President Donald Trump said: "I think so, but you know, tariffs can increase over time... I don't know if it's predictable."
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| US President Donald Trump's tariff policies have left investors and allies uncertain about what will happen next. (Source: GK Images/Alamy Stock) |
More specifically, US President Donald Trump said on March 7 that tariffs on Canada and Mexico could continue to increase, after he signed trade measures this week to delay tariffs - under the Free Trade Agreement between the three countries - until early April.
Mr. Trump made the statement in an interview with Fox Business, amid uncertainty about his trade policy that has caused confusion for businesses and policymakers in Canada and Mexico, as well as other countries that have manufacturing activities in these two countries for export to the United States.
Earlier, according to Canadian press on March 6, US President Donald Trump agreed to postpone the application of 25% tariffs on most imports from Canada and Mexico until April 2. This is the latest move in the constantly changing trade policy, leaving investors and US allies uncertain about what will happen next.
Mr. Trump's new move comes just two days after a 25% tariff on all Canadian and Mexican goods took effect, with the exception of Canadian energy, which was subject to a 10% tariff.
The move came after a phone call between the US President and his Mexican counterpart Claudia Sheinbaum and talks with Canada, including a phone call with Prime Minister Justin Trudeau on March 5.
Global News reported that Trump signed a new executive order granting some exemptions to Canada after initially stating that only Mexico would be exempted from the full tariffs until April 2.
Under the new orders, Canadian imports that comply with the Canada-U.S.-Mexico Trade Agreement (USMCA) — mainly auto parts — will be exempt from the 25% tariff for one month. In a separate order, Mexican imports that comply with CUSMA will also be exempt from the 25% tariff for one month, when Washington is expected to impose additional punitive tariffs on several countries.
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