The US may be about to announce a trade agreement with Canada and Mexico

“I think he will find a solution to them. It will be a more effort of English, we will find a common voice. We will probably publish this tomorrow,” he said on the above. Fox Business March 4. The agreements may include a part of the reduction of import tax that Mr. Trump applied to Mexico and Canada goods.

On March 4, Mexico and Canada products entered the United States suffered new import duties. Accordingly, energy from Canada will be imposed on 10%tax, Mexico is 25%. Other products from the two countries are subject to 25%tax.

Canada then quickly launched retaliation, when imposing an import tax of 25% with 155 billion Canadian dollars (US $ 107 billion) from the US from March 4. In particular, tax with 30 billion CAD goods are immediately valid. And tax with 125 billion CAD other products will take effect after 21 days.

Canadian Prime Minister Justin Trudeau called Mr. Trump’s policy “unfounded”, accusing Mr. Trump to seek ways to demolish the Canadian economy and announced that he would not give in.

Mexican President Claudia Sheinbaum said it would publicize the plan of retaliation on March 9. She affirmed: “Unilateral US decision affects all domestic and foreign companies in Mexico, as well as our people.”

Lutnick said he had talked to both Canadian and Mexican officials about trade. CNN Extracting from the Canadian government confirmed that Canadian Finance Minister Dominic Leblanc discussed with the US Trade Minister.

Mr. Trump’s policies have recently caused great instability to the US economy. The fact that he declared import tax, then signaled may change the policy within 24 hours, it could make it difficult for businesses to make decisions.

The President of the AFBF Zippy Duvall, representing more than 2 million farms in the United States, also warned Mr. Trump’s import tax “will blow into the US countryside”. “Farmers and farmers are very worried about the decision to impose taxes on Canada, Mexico and China – our leading trading partners,” Duvall said.

Last year, China exported more than 83 billion USD of agricultural products to China, Canada and Mexico, according to AFBF data. In 2018, the US Department of Agriculture had to set up a program to support farmers with financial losses from China’s retention.