April 2 is identified by Trump as a significant day for the United States.

Donald Trump, the President of the United States, declared a plan to enforce reciprocal tariffs on April 2 after granting exemptions to most products from Mexico and Canada for one month.

The president announced that steel and aluminum tariffs will take effect next week without any changes. Trump made the announcement during a press conference on Thursday at the Oval Office in the White House.

The US President signed executive orders on Thursday allowing tariff reductions for Mexico and Canada.

The ruling applies to items traded under the regulations of the USMCA, a trade deal established during the Republican administration’s initial term (2017-2021).

The action occurs one day following the decision to provide car manufacturers with a 30-day break, as they were worried about the potential harm from 25% tariffs on the US automobile sector.

Trump’s announcement was made on Truth Social, his social platform, following a discussion with Mexico’s President Claudia Sheinbaum. They reached an agreement that Mexico would not be required to pay tariffs on goods covered by USMCA. This information was reported by “Reuters.”

Sheinbaum thanked Trump and highlighted the cooperation between the two nations on matters like immigration and drug trafficking.

Approximately 10% of the goods imported from Mexico to the U.S. are not covered by USMCA and will therefore be subject to tariffs. This includes exports of cars and machinery.

U.S. agricultural industry criticizes Trump and predicts Brazil’s success in trade conflict.

The US agriculture industry is unhappy with the tariffs imposed by the Trump administration. Producers acknowledge the impact of catering solely to domestic demand and are concerned that other nations may start sourcing soybeans from Brazil due to the US tariff levels.

At a time when the Brazilian government is making its initial attempt to negotiate a diplomatic solution to the US “tariff hike,” pressure is mounting on Washington.

A meeting is planned for Thursday between Vice President Geraldo Alckmin and U.S. Secretary of Commerce Howard Lutnick. This meeting follows Trump mentioning Brazil in a speech to Congress, accusing the country of unfair trade practices.

Brazil is the champion.

One of the few areas where Chinese agribusiness has a positive surplus is among various sanctions imposed by the US government.

Beijing responded swiftly to US soybeans by imposing a 10% tariff on imported raw materials. Farmers believe that Brazil could fill the void left by the world’s largest economy.

Caleb Ragland, the president of the American soy association, cautions that overseas soy producers in Brazil and other nations anticipate a plentiful harvest this year and are ready to fulfill any demand resulting from a potential trade conflict between the US and China.

Soybean, the top export crop in the U.S., experiences significant and unequal effects from disruptions in trade, particularly with China being its largest market, according to the executive.