Trump administration signals that the tariffs against Canada and Mexico may soon have exemptions (AP) [View all]
By JOSH BOAK
Updated 9:11 AM CST, March 5, 2025
WASHINGTON (AP) — Commerce Secretary Howard Lutnick said there might be carveouts coming to the 25% tariffs placed on Canada and Mexico by President Donald Trump, a softening of the U.S. position after Tuesday’s tax hike hurt the stock market, worried consumers and started a trade war.
In a Wednesday interview with Bloomberg Television, Lutnick said that Trump would update his tariff plans with an afternoon announcement, possibly sparing sectors such as autos from the import taxes.
“There are going to be tariffs, let’s be clear,” Lutnick said. “But what he’s thinking about is which sections of the market that can maybe -- maybe -- he’ll consider giving them relief until we get to, of course, April 2.”
On April 2, Trump plans to announce what he calls “reciprocal” tariffs to match the tariffs, taxes and subsidies provided by other countries. That could dramatically increase the tariff rates charged globally while maintaining the risk of a broader tariff.
***very informative charts at the link; can't be selected for copying or linking***
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more: https://apnews.com/article/trump-tariffs-canada-mexico-china-lutnick-2b269614084027a4894aa14f3dc16227
OF COURSE there will be carveouts; bring your checkbooks, and be prepared to bid high.
In the first Turnip maladministration, there were multiple carveouts for cronies and family. I particularly remember the carveout for "printed religious materials", which would eventually include the blasphemous Turnip "Bible", enabling printing costs to be contained below $4 (retail price $59.99, up to $99.99 at the official Web site).
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