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US: White House Walks Back Canada/Mexico Tariff Postponement, Per Reports

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Helping explain why MXN and CAD retraced almost all their sharp mid-afternoon gains: multiple outlets (Axios, Politico) report that the 25% US tariffs on Canada and Mexico due to come into place on March 4 are still on track - and there is no delay to April 2 as President Trump said earlier.

  • Commerce Secretary Lutnick said something to this effect, and various media cite a White House source confirming that the tariffs are still on for next week as it stands.
  • Per Axios: "Trump told reporters on Wednesday that the 25% tariff on imports from North American allies would take effect on April 2. Commerce Secretary Howard Lutnick quickly added that the "big transaction" would be April 2, but the "fentanyl-related" tariffs would be re-evaluated at the end of the 30-day pause on March 4."
  • "April 2 is the deadline for reciprocal tariffs that Trump previously announced, a senior White House official clarified to Axios. That official added that the 25% tariffs specific to Canada and Mexico were still on pause until next week, as originally thought. The administration has not made a decision whether to extend that pause or not."
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Helping explain why MXN and CAD retraced almost all their sharp mid-afternoon gains: multiple outlets (Axios, Politico) report that the 25% US tariffs on Canada and Mexico due to come into place on March 4 are still on track - and there is no delay to April 2 as President Trump said earlier.

  • Commerce Secretary Lutnick said something to this effect, and various media cite a White House source confirming that the tariffs are still on for next week as it stands.
  • Per Axios: "Trump told reporters on Wednesday that the 25% tariff on imports from North American allies would take effect on April 2. Commerce Secretary Howard Lutnick quickly added that the "big transaction" would be April 2, but the "fentanyl-related" tariffs would be re-evaluated at the end of the 30-day pause on March 4."
  • "April 2 is the deadline for reciprocal tariffs that Trump previously announced, a senior White House official clarified to Axios. That official added that the 25% tariffs specific to Canada and Mexico were still on pause until next week, as originally thought. The administration has not made a decision whether to extend that pause or not."