Pinned
Senate efforts to overturn President Donald Trump’s tariffs on Canadian goods entering the United States succeeded in a symbolic move.
S.J. Res. 37, legislation introduced by Sen. Tim Kaine (D-Va.) to scrap the 1977 International Emergency Economic Powers Act (IEEPA), was approved in a 51-48 vote.
Four Republicans—Sens. Rand Paul (R-Ky.), Susan Collins (R-Maine), Lisa Murkowski (R-Alaska) and Mitch McConnell (R-Ky.)—voted with Democrats to pass the measure.
U.S. President Donald Trump unveiled his long-promised plan seeking to rebalance global trade with reciprocal U.S. tariffs on April 2, but didn’t impose new tariffs on Canada and Mexico.
A senior White House official said the initial 10 percent tariff on energy imports from Canada along with the broad 25 percent tariff on goods from Canada and Mexico in relation to illegal migration and fentanyl trafficking will remain in place unchanged. The current exemptions for goods covered by the United States-Mexico-Canada Agreement (USMCA) free trade deal, implemented on March 6, also remain.
“At this time, Canada and Mexico, they continue to be subject to the national emergency related to fentanyl and migration, and that tariff regime will persist while those conditions persist, and they will be subject to that regime, and not the new regimes,” said the official while speaking to reporters before Trump’s announcement.
Vietnam has announced reductions to tariffs on a range of U.S. products.
“From March 31, 2025, certain items such as cars, wood, ethanol, frozen chicken legs, pistachios, almonds, fresh apples, cherries, raisins, etc., will be subject to a new preferential import duty rate,” the government said in a statement on Monday.
Sen. Susan Collins (R-Maine) says President Donald Trump's tariffs on Canadian goods will be "detrimental" to families and local economies.
In remarks on the Senate floor, Collins expressed support for a resolution—S.J. Res. 37—overturning the president's emergency order to impose tariffs on the northern neighbor.
President Donald Trump's tariffs will send the U.S. economy into a recession, according to House Minority Leader Hakeem Jeffries (D-N.Y.).
"Republicans are crashing the American economy in real time and driving us to a recession," Jeffries told reporters at a news conference. "It's not Liberation Day. It's recession day in the United States of America."
Mexican President Claudia Sheinbaum will not implement retaliatory tariffs on the United States.
Ahead of President Donald Trump's "liberation day" announcement that will unveil sweeping tariffs on U.S. trading partners, the Mexican leader confirmed that she will outline a "comprehensive plan, not a tit-for-tat on tariffs" on April 3.
Israel has announced it is eliminating all remaining tariffs on U.S. imports, hours before the Trump administration is set to implement sweeping reciprocal levies against its global trading partners.
The decision, revealed on Tuesday by Israeli officials, still requires final approval from Economy Minister Nir Barkat and the Parliament’s finance committee, though both are expected to support the measure.
“Tariffs on all imports from the United States will be cancelled,” the prime minister’s office said in a statement.
WASHINGTON—President Donald Trump is set to announce reciprocal tariffs for all nations starting April 2, the date he has dubbed “Liberation Day.”
Companies, markets, and governments are on edge, expecting the move to send shockwaves across the globe.
Liberation Day will impact all countries, Trump told reporters over the weekend aboard Air Force One. However, some countries will be more vulnerable due to their high trade imbalances with the United States and significant trade barriers against American goods, including China, India, the European Union, Canada, Mexico, the United Kingdom, Vietnam, Japan, and South Korea.
The White House has yet to disclose details of the sweeping tariffs. Treasury Secretary Scott Bessent has said that the administration will focus on the “dirty 15,” or the top 15 percent of partners contributing the most to the United States’ negative trade balance.
April 2 will be America’s “liberation day,” President Donald Trump says.
The president is set to unveil his administration’s reciprocal tariffs on U.S. trading partners. This initiative is to feature the United States matching tariff rates set by other countries on American goods.
“If they charge us, we charge them,’’ the president said in February. “If they’re at 25, we’re at 25. If they’re at 10, we’re at 10. And if they’re much higher than 25, that’s what we are too.’’