U.S. Mexico Canada Agreement
Tariff whiplash is consuming the commodity markets — and the possible impact is stirring up quite the debate. At present, President Trump says he’s sticking to his plan to impose additional tariffs on Canada, Mexico and China starting April 2.
Oliver Sloup, Blue Line Futures, says it was roller coaster week in both grain and livestock futures due to on again, off again tariff talk. Are calmer waters ahead?
Varilek says black swan events like the Black Sea war that broke in May of 2022 lead to highly volatile markets but in that case the news and uncertainty became priced in over time.
Mexico’s president said on Tuesday the country will respond to U.S. tariffs with a 25% tariff on U.S. goods, but she will hold off announcing the targeted products until Sunday.
President Trump says tariffs on goods from Canada and Mexico will now take effect on April 2, 2025.
Trump said Monday that his planned 25% tariffs on all Mexican and Canadian exports to the U.S. “are going ahead on time, on schedule,” meaning the duties would take effect on March 4 at the conclusion of a one-month suspension.
Secretary of Agriculture Brooke Rollins kicked off the 2025 Top Producer Summit on Tuesday morning, detailing her plan to advocate for trade. ‘We want to find market access for all our products,’ Rollins said.
The measures, effective March 12, eliminate country-specific exemptions and extend to downstream steel and aluminum products, affecting key suppliers such as Canada, Mexico, Brazil, and South Korea.
Who is next on the Trump administration’s trade radar?