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President Donald Trump has signed off on tariff exemptions for imports from Canada and Mexico that are covered under the 2020 U.S.-Mexico-Canada Agreement (USMCA). The levies will now not apply until April 2nd, at which point Mr. Trump has pledged to impose reciprocal tariffs on other nations with duties on American imports. The exemptions apply to some things like potash, which is used in fertilizers, but some Canadian energy products won’t qualify and will be subjected to a 10% tariff. All other goods, including computers from Mexico, will be subjected to the 25% tariff. "On April 2nd, we're going to move with the reciprocal tariffs, and hopefully Mexico and Canada will have done a good enough job on fentanyl that this part of the conversation will be off the table, and we'll move just to the reciprocal tariff conversation," Commerce Secretary Howard Lutnick said. "But if they haven't, this will stay on."
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