Nigeria: US imposes tariffs on Canadian imports, spares Mexico
By Zuleihat Owuiye, Mamos Nigeria
The United States has imposed a 100% tariff on Canadian softwood lumber and is considering additional levies on Canadian steel and aluminum products. However, products covered by the 2020 United States-Mexico-Canada Agreement will be exempt from the tariff rate.
The tariffs on Canadian imports were imposed due to Canada’s alleged failure to cooperate in curbing the flow of illicit fentanyl and other drugs. The US has also accused Canada of retaliating against its trade measures.
Canada has expressed disappointment over the tariff hike, citing its efforts to crack down on fentanyl and increase border security.
In a surprise move, the US has delayed imposing higher tariffs on Mexican imports, pushing back the rollout by 90 days. This decision came after a conversation between US President Joe Biden’s counterpart and Mexican President Claudia Sheinbaum.
The US had originally threatened to raise tariffs on Mexican products from 25% to 30% starting August 1, citing a lack of progress in the flow of illicit fentanyl. However, the delay suggests a potential shift in US-Mexico trade relations.
The tariffs imposed on Canadian imports may affect trade relations between the two countries, potentially leading to retaliatory measures from Canada. The delay in imposing tariffs on Mexican imports may ease tensions between the US and Mexico, but the situation remains fluid.
