As of March 4, 2025, several countries have imposed retaliatory tariffs and trade restrictions in response to recent U.S. tariff increases. Below is a summary of these measures:
Canada:
- Tariffs Imposed: Effective immediately, Canada has implemented 25% tariffs on C$30 billion worth of U.S. goods, including orange juice, peanut butter, wine, spirits, beer, coffee, appliances, apparel, footwear, agricultural goods, motorcycles, cosmetics, and pulp and paper.
- Future Measures: Canada plans to expand these tariffs to cover an additional C$125 billion in imports within three weeks if the U.S. tariffs remain in place.
China:
- Tariffs Imposed: Starting March 10, China will impose additional tariffs of 10% to 15% on various U.S. agricultural products, including chicken, wheat, corn, cotton, sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products. Goods in transit may be exempt through April 12.
- Trade Restrictions: China has also tightened trade restrictions by suspending imports of U.S. lumber and restricting 10 more U.S. firms from engaging in trade, adding key companies to its export control list.
Mexico:
- Pending Actions: Mexican President Claudia Sheinbaum has announced plans to reveal new tariffs on U.S. goods this coming Sunday, with specific details yet to be disclosed.
We recommend reviewing your export strategies and staying informed about these changes to mitigate potential impacts on your operations. Reach out to M-PACT for assistance with navigating retaliatory tariffs.