Tariff turmoil, Part 2: Navigating the premiums puzzle

A second week of tariff turmoil, and we’re updating the chronology. In case you missed it, we covered the initial twists and turns last week in Tariff turmoil: The ever-changing playbook.

• January 21 – Promised tariffs on Canada and Mexico
• February 1 – Officially announced tariffs on Canada and Mexico
• February 3 – Delayed Canada and Mexico tariffs 30 days
• February 27– Announced tariffs would go into effect March 4 for both countries
• March 4 – Implemented the 25% tariffs on Canada and Mexico from midnight
• March 5 – Suspended tariffs on autos for 1 month
• March 6 – Suspended broad country of origin tariffs for 1 month provided they comply with USMCA rules of origin.
• March 11 – Trump threatens to double the Canadian duty on aluminum and steel in response to Ontario’s placement of a 25% export duty on electricity exports to the U.S.
• March 12 – Trump rescinds threat to double the Canadian duty when Ontario removes its 25% export duty on power and engages with Department of Commerce