Jul. 25 at 2:52 PM
#Canada
$EWC and #Mexico
$EWW The two big exceptions to "the US trade war is nearly over" are Canada and Mexico. Here are the numbers if the tariff spat is not resolved via negotiation...
Canada and Mexico, which will see an increase in their punitive tariff levels of 25% on most good not complaint with USMCA (the repl. for NAFTA) to 35% and 30%, respectively on Aug. 1st. Non-compliant % for Canada is 50% and for Mexico, 52%, so it impacts a lot of trade.
Canada: 13.1% of US imports. 2024 =
$421.2 B
Mexico: 15.9% of US imports. 2024 =
$510 B
That means the higher tariff levels would impact
$475.8 B in US imported goods if they take effect on Aug. 1st.
Ref. Tradingeconomics.com