February 1, 2025, President Trump signed an executive order (the "Executive Order") that, in blatant contravention of the Canada-United States-Mexico Agreement signed during his first term, applies tariffs of 25% on all goods originating in Canada and imported into the U.S. except "energy and energy resources", which will instead be subject to a 10% tariff. These tariffs will go into effect at 12:01am on Tuesday, February 4. President Trump also signed a second Executive Order that placed a 25% tariff on all goods originating from Mexico, including all energy and energy resources, however the implementation of those tariffs have been delayed by at least a month. As discussed in our prior client alert, these measures follow the announcement by President Trump on inauguration day that tariffs would be imposed on Canada and Mexico on February 1st.
Please refer here for our complete article detailing existing measures.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
