According to US Commerce Secretary Howard Lutnick, tariffs on imports from Canada and Mexico will happen as planned, starting at 12:01 am Tuesday and that the exact details of the tariffs will depend on negotiations.
After a 30-day delay from the tariffs’ original start date, US President Trump recently restated his intent to impose 25% tariffs – which are a tax on imports – on its two neighboring countries as a response to what he says is an unacceptable flow of illegal drugs and migrants into the US. In an interview Monday, Lutnick said Trump “knows they’ve done a good job on the border,” but the countries “haven’t done enough on fentanyl.” Clarification on how the tariffs will be implemented is expected by Tuesday.
This is a very dynamic situation with significant ramifications for supply chains. Jaguar Freight will provide more information as it becomes available.
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