President Trump Imposes and Suspends Tariffs on Canada, Mexico

Tuesday, February 4, 2025 – In a significant shift from his initial announcement, former President Donald Trump has agreed to delay imposing 25% tariffs on imports from Canada and Mexico for 30 days, following last-minute negotiations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum. However, a 10% tariff on Chinese imports has taken effect as scheduled.

The delay in North American tariffs comes after Trudeau committed to strengthening border enforcement efforts to curb illegal migration and fentanyl trafficking. Meanwhile, Mexico has agreed to deploy additional troops to its northern border, in exchange for U.S. commitments to limit gun trafficking into the country.

Despite the temporary reprieve for North American trade, the 10% tariff on Chinese imports is now in force. In response, China has announced retaliatory measures, imposing tariffs of 15% on U.S. coal and liquefied natural gas and 10% on crude oil and agricultural machinery.

For U.S. manufacturers, including NFFS member foundries, the shifting trade landscape introduces continued uncertainty. While the temporary suspension of Canadian and Mexican tariffs provides short-term relief, the implementation of new tariffs on Chinese imports—and China’s swift retaliation—may disrupt supply chains and increase costs for key raw materials and equipment.

NFFS will continue monitoring these developments and provide updates as they become available.