Finance Minister Dominic LeBlanc said Ottawa was temporarily suspending the second round of tariffs on U.S. goods after President Donald Trump granted a month-long waiver on U.S. goods subject to the USMCA (CUSMA) tariffs. However, the first 25% of tariffs on U.S. goods will remain in place.

“The U.S. has agreed to suspend tariffs on Canadian exports under CUSMA until April 2. In return, Canada will delay the second wave of tariffs on $125 billion,” LeBlanc wrote on March 6.

The second round of tariffs was originally set to go into effect on March 25, but has now been delayed until April 2, the date Trump’s latest waiver expires.

Meanwhile, Trump cut tariffs on Canadian potash from 25% to 10% and confirmed that major US automakers (Ford, Stellantis and GM) as well as cars from Canada and Mexico under the USMCA will receive a month-long exemption from tariffs.

However, the US will impose 25% tariffs on steel and aluminum from March 12.

The provinces are also responding: Ontario will impose a 25% surcharge on electricity exports to the US from March 10, Premier Doug Ford said.