President Trump signed executive actions on Thursday, March 6th, allowing both Mexico and Canada to avoid tariffs on most exports to the United States for one month. He stated that he would exempt products traded under the rules of the U.S.-Mexico-Canada Agreement, the trade pact he signed during his first term.

Duties imposed on Canada & Mexico are now as follows:

• 25% tariffs on goods that do not satisfy U.S.-Mexico-Canada Agreement (USMCA) rules of origin.
• A lower 10% tariff on those energy products imported from Canada that fall outside the USMCA preference.
• A lower 10% tariff on any potash imported from Canada and Mexico that falls outside the USMCA preference.
• No tariffs on those goods from Canada and Mexico that claim and qualify for USMCA preference.

The modifications shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. ET on March 7, 2025.

RIM will continue to closely monitor this evolving situation and provide updates as necessary. Please reach out to your RIM representative should you have any further questions.