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Canada, US agree to delay imposition of tariffs on imported goods

04 Feb '25
2 min read
Canada, US agree to delay imposition of tariffs on imported goods
Canadian Prime Minister Justin Trudeau making the announcement of pause in tariff imposition. Pic: Justin Trudeau/X

Insights

  • Canada and the US have agreed to delay tariffs on imported goods, with Canada reinforcing its border through a $1.3 billion plan, appointing a Fentanyl Czar, and launching a joint strike force.
  • The NCTO and US Chamber of Commerce welcomed the pause on 25 per cent tariffs, urging a permanent resolution.
  • The 30-day delay aims to address border security, organised crime, and trade stability.
Canada and the US have agreed to pause the imposition of respective tariffs on imported goods, Canadian Prime Minister Justin Trudeau announced on X. After a call with US President Trump, Trudeau wrote, “Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly 10,000 frontline personnel are and will be working on protecting the border.”

“In addition, Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, launch a Canada-US Joint Strike Force to combat organised crime, fentanyl and money laundering. I have also signed a new intelligence directive on organised crime and fentanyl and we will be backing it with $200 million,” Trudeau added.

The National Council of Textile Organizations (NCTO) and the US Chamber of Commerce have applauded President Trump’s pause on penalty tariffs on Mexico and Canada.

“We are grateful that President Trump has reached an agreement with both Mexico and Canada to pause the planned 25 per cent penalty tariffs on their imports for one month while all parties continue to negotiate a deal to address his administration’s serious concerns. We fully support the President’s efforts to resolve issues related to migration and fentanyl poisoning as quickly as possible so that we can ensure a normalised trading relationship with Mexico and Canada,” NCTO President and CEO Kim Glas said in a statement.

John Murphy, Senior Vice President and Head of International at the U.S. Chamber of Commerce, said “It is good news that the US has avoided an imminent trade war with Canada and Mexico, our two most important trading partners, and that the American people are spared the immediate economic harm that tariffs would inflict. The Chamber and our members will be fully engaged to ensure this 30-day pause becomes a permanent lifting of the threat of tariffs and a trade war. We will continue to work with the administration and Congress on solutions to secure our border, stop the flow of illicit drugs into America, and to support a growing economy and reduced inflation for all Americans.”

Fibre2Fashion News Desk (RKS)

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