Updated April 4th 2025, 00:36 IST
The President of the United States of America has excluded five countries from the imposition of tariffs and the doom that 'Liberation Day' brought with itself.
These five countries are Russia, Canada, Mexico, North Korea, and Cuba.
This exemption of tariffs from these nations has been widely questioned by major trading partners that have been charged steep duties.
Russia, North Korea, Cuba, and Belarus were not included in this latest round of tariffs that were imposed and the US Treasury Secretary Scott Bessent explained that Russia had been left out because existing sanctions had already been reduced between the two countries to minimal levels.
Additionally, Canada and Mexico have not been spared completely from trade penalties, even though they were not named in Trump's April 2 tariff announcement. Earlier in 2025, the United States had imposed a 25% tariff on imports from both Canada and Mexico, specially targeting Canadian energy and potash along with a 10% rate.
The products that are covered under the USMCA or the US-Mexico-Canada Agreement continue to be exempt from the new duties. But new tariffs on auto parts and other products came into force on Thursday.
While speaking to Bloomberg, Mark Carney, the Prime Minister of Canada said that his government would respond with countermeasures to protect Canadian workers.
Published April 4th 2025, 00:36 IST