On Feb. 3, President Trump paused the 25% tariffs on imported products from Canada and Mexico that were supposed to take effect Feb. 4. There’s now a 30-day reprieve. In addition to the 25% tariffs now set to be effective March 4, a 10% tariff on energy resources from Canada is paused. Trump issued the pause after receiving concessions from Canada’s and Mexico’s leaders. In addition to these tariffs, Trump had imposed an additional 10% tariff on imports from China. Tariffs on all Chinese products went into effect Feb. 4. China announced it would retaliate with 15% tariffs on U.S. coal and liquefied natural gas and 10% on crude oil, agricultural machines and large-engine cars.
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