What next for tariffs?

Thursday 6 February 2025

Goldman with the note.

After signing orders imposing new tariffs on Canada, Mexico, and China, President Trump delayed the Canada and Mexico tariffs until March 4.

We think a further extension is likely, but the tariff risk for both countries is likely to remain until at least the conclusion of the USMCA review slated for mid-2026.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.