US Tariff Fluctuations on Canada and Mexico Add Supply Chain Uncertainty

The US imposed and then quickly suspended 25% tariffs on imports from Canada and Mexico under the USMCA.
Non-USMCA imports, including phones, computers, and medical equipment, are still subject to the tariff.
The uncertainty has disrupted cross-border trade, causing congestion at ports and border crossings.
US importers have been frontloading shipments, leading to higher ocean freight volumes and short-term rate fluctuations.

In early March, the US imposed a 25% tariff on all imports from...