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The Latest on Tariffs as New Pause Takes Effect
After announcing a series of new tariffs, primarily aimed at Canada and Mexico, in the first quarter of the year, and subsequently pausing most of them, the Trump administration kicked off the second quarter with new tariffs on most U.S. trading partners on “Liberation Day”. Those tariffs were soon paused for 90 days until July 9, on the promise of forthcoming bilateral trade agreements.
On July 7, the Trump administration signed an executive order further extending the pause until Aug. 1. For the past six months, the ongoing uncertainty caused by tariff stops and starts has resulted in businesses postponing investment and hiring decisions, posing outsized risks to Michigan’s signature automotive industry and the state’s lucrative trade partnership with Canada. MichAuto continues to track developments as it informs its members about the potential economic impact of tariffs while serving as the voice of the automotive and mobility industry in the media.
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