US Commerce Sec Howard Lutnick announced that Canadian and Mexican tariffs will be removed today on 'USMCA compliant' goods but exactly what that means isn't clear.
As Brian Platt at Bloomberg highlights, that pact covers virtually everything that crosses the border but some exporters use other paperwork practices because that's easier.
In Trump's announcement about lifting tariffs he said "anything that falls under the USMCA Agreement" which hints that it's all the goods that are listed in the agreement, regardless of what paperwork is used. Ultimately, I don't think it really matters as the paperwork surely can't be that onerous.
Of course, this all going to be renegotiated starting in July 2026 with the USMCA and the call between the two yesterday highlighted some of the battlegrounds.
Trump also laid out a lengthy list of trade irritants. They included Canada’s value-added sales taxes, digital services tax and its protections for dairy farmers, speaking at length about Canada’s tariff protections for its supply-managed dairy sector which controls production and pricing in Canada and levies tariffs against foreign imports. The U.S. won a certain amount of access to Canada’s small dairy market under the renegotiated NAFTA in 2018, yet it continues to be a complaint of Trump’s. But Trump did not raise another long-running complaint, that Canada doesn’t spend enough on defence, the Canadian official said. This article was written by Adam Button at www.forexlive.com.Hence then, the article about the details of what trump announces today on usmca will be key was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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