U.S. Commerce Secretary Howard Lutnick says he expects there will be a one-month tariff reprieve for all products compliant with the United States-Mexico-Canada Agreement (USMCA).
“It’s likely that [the reprieve] will cover all USMCA compliant goods and services, so that which is part of President Trump’s deal with Canada and Mexico are likely to get an exemption from these tariffs now,” Lutnick said during an interview with CNBC aired March 6.
Lutnick said the decision comes from Canada and Mexico having done “an enormous amount of work” on fentanyl.
Lutnick said he expects U.S. President Donald Trump will “come to the agreement today” that these USMCA-compliant goods will be exempted from tariffs until April 2. He said the tariffs decision after that reprieve will be focused on “fentanyl and the border” and though the U.S. administration acknowledges progress on border security, it wants to see “a reduced number of autopsy deaths from fentanyl” in the United States….