Today, March 4, 2025, the previously announced tariffs on goods
from Canada and Mexico are officially effective. As noted in our
previous update, U.S. President Donald Trump announced
significant additional tariffs on imports of goods from Canada,
Mexico, and China through the issuance of three Executive Orders on
February 1, 2025 (collectively, the "Executive
Orders"). President Trump stated that he was taking
this action because of the alleged involvement, complicity, and/or
inaction by the three countries with respect to drug trafficking
and illegal immigration across the northern and southern borders of
the United States.
In February, President Trump spoke with Prime Minister Justin
Trudeau and President Claudia Sheinbaum, respectively, on the day
before the tariffs were set to go into effect, and each of the
leaders agreed to pause the tariffs for one month. Pursuant to two
subsequent executive orders (collectively, the
"Subsequent Executive Orders"),
Presiden
