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President Donald Trump on March 6 postponed 25% tariffs on many imports from Mexico and some imports from Canada until April 2 amid fears of the economic fallout from a broader trade war.

“Mexico could put their own import tariffs on — that could reduce the U.S. freight advantage. It’s a matter of how fierce the trade war gets,” said Pat Boova.

Mexico President Claudia Sheinbaum said March 4 that Mexico will respond to 25% tariffs imposed by the United States with its own retaliatory tariffs on U.S. goods.

The long-promised tariffs scheduled to take effect March 4 would easily be among the most sweeping of the Trump era, applying to roughly $1.5 trillion in annual imports.

U.S. Treasury Secretary Scott Bessent said Mexico has proposed matching Washington’s tariffs on China and urged Canada to do the same.

President Donald Trump says he plans to impose tariffs on Canada and Mexico starting March 4, in addition to doubling the 10% universal tariff charged on imports from China.

President Donald Trump said he expected tariffs planned to take effect on Canada and Mexico to go ahead next month following an initial delay.

Some 99% of executives surveyed across the U.S., Canada, Mexico and four Western European nations plan to boost spending on workforce safety and security technologies.

Mexico is weighing possible levies on Chinese imports as it pushes for a deal to avoid the 25% tariffs that President Donald Trump has threatened to impose on its goods before a March deadline.

President Donald Trump on Feb. 13 rolled out his plan to increase U.S. tariffs to match the tax rates that other countries charge on imports, possibly triggering broader confrontation.