New Chevrolet and Volvo vehicles at the Dundalk Marine Terminal at the Port of Baltimore. Photographer: Nathan Howard/Bloomberg.

President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as the USMCA (United States–Mexico–Canada Agreement) from his 25 percent tariffs, offering major reprieves to the U.S.’s two largest trading partners. He signed orders yesterday paring back the tariffs, which are related to illegal immigration and fentanyl trafficking, until April 2. That is the date when the president is expected to start unveiling plans for so-called reciprocal duties on nations around the world as well as sector-specific duties.

“They’ve been working much harder lately, do you notice that? On people coming in and drugs. We’ve made tremendous progress on both,” Trump said in the Oval Office, referring to Mexico and Canada.

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