Generic Hero BannerGeneric Hero Banner
Latest market news

US delays Canada tariffs by a month: Trudeau

  • : Crude oil, LPG, Natural gas
  • 03.02.25

US tariffs threatened against Canada will be delayed by 30 days, prime minister Justin Trudeau said this afternoon after talking with US president Donald Trump.

"I just had a good call with President Trump," Trudeau posted on X, before describing Canada's plan to send thousands of officials to the US border to police fentanyl trafficking. The two leaders spoke twice on Monday, the eve of sweeping tariffs Trump had proposed against Canada and Mexico.

Earlier in the day Mexican tariffs were also delayed by a month after similar promises for more troops on the border.

"Nearly 10,000 frontline personnel are and will be working on protecting the border," Trudeau wrote. "In addition, Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, launch a Canada-US Joint Strike Force to combat organized crime, fentanyl and money laundering."

Canada will be putting C$200mn ($139mn) towards tackling organized crime and fentanyl.

In light of the US-Canada tariff pause, manufacturing and mineral-heavy Ontario said it would pause retaliation measures of its own announced earlier in the day. That would have banned US companies from provincial contracts, removed American products in liquor stores and cancelled a contract with Elon Musk's Starlink internet services.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more