Early last week, President Trump rolled out 25% tariffs on all US imports from Mexico and Canada only to issue a one-month reprieve for automotive goods covered by the USMCA a day later and extend that suspension to all imports that fall under the USMCA by 13 March.
An estimated 50% of imports from Canada and 38% from Mexico fall under the USMCA and include automotive goods, food and agricultural products and many appliances and electronics.
But that leaves about US$1 billion worth of imports per...