Goods from Mexico and Canada are exempt from the newly-announced tariffs since they are already subject to other levies, a senior White House official said.

President Donald Trump's announcement of new tariffs has sent ripples through the global trade landscape. With immediate implementation, the uncertainty surrounding these measures leaves the U.S. economy on edge.

As markets plunged and world leaders expressed anger and dismay over Trump's tariffs, Mexico took a more measured and hopeful approach.

According to Trump’s latest executive order, Mexico and Canada’s 25 per cent tariff on non-USMCA goods would go down to 12 per cent if the US is happy with their compliance on stopping fentanyl and halting illegal migration.

Stellantis is halting vehicle production at two assembly plants in direct response to President Trump’s newly enacted 25% auto tariffs.

Experts say President Trump’s retaliatory tariff announcement is setting a new precedent for trade in North America. Juan Carlos Baker is CEO of Ansley International Consultants. “We just witnessed the most significant developments in trade policy in maybe 3 decades.

Canada will match President Trump’s auto tariffs with 25% tariffs of its own on U.S. vehicles that are not compliant with the U.S.-Mexico-Canada trade pact, Prime Minister Mark Carney said on Thursday.

By Promit Mukherjee OTTAWA (Reuters) -Canadian Prime Minister Mark Carney announced limited countermeasures against U.S. auto tariffs on Thursday, imposing a 25% tariff on vehicles imported from the United States that are not compliant with the U.

President Donald Trump's "Liberation Day" appeared set to end North American free trade and Mexico's privileged access to the U.S.

Mexico celebrated Thursday having dodged the latest round of tariffs from the White House taking aim at dozens of U.S. trading partners around the world, but was also quickly reminded that in a global economy the effects of uncertainty can’t be entirely avoided.