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President Donald Trump is considering exempting certain agricultural products from tariffs imposed on Canada and Mexico, the latest move by the administration on Wednesday to offer relief to certain sectors from the sweeping new import taxes.
Agriculture Secretary Brooke Rollins told Bloomberg News that “everything is on the table” and she is “hopeful” that the administration could decide on providing relief for the agricultural sector.
“As far as specific exemptions and carveouts for the agriculture industry, perhaps for potash and fertilizer, et cetera — to be determined,” Rollins said Wednesday at the White House. “We trust the president’s leadership on this. I know he is hyper focused on these communities.”
Rollins was at the White House and met with top administration officials to deliberate a path forward. Earlier Wednesday, the Trump administration announced that they are delaying for one month tariffs on automotive imports from Mexico and Canada following pleas from industry executives for more leeway.
Commerce Secretary Howard Lutnick on Thursday also said that Trump is likely to defer tariffs on Canada and Mexico for all goods and services covered under the North American trade agreement known as USMCA.
The moves come one day after Trump imposed 25% tariffs on the two North American neighbors — the largest US trading partners — part of a broad bid to use import levies to raise revenue and convince companies to move manufacturing back to the US. The tariffs have sparked volatility in global markets, with the S&P 500 Index rising over 1% on Wednesday, rebounding from a two-day slide.
Lawmakers from states with strong agriculture interests have pleaded with the administration to carve out tariff exemptions for fertilizers and other products that are critical for growing US crops.
Trump has pushed ahead with his threats to enact wide-ranging tariffs in his second term, dismissing warnings from economists that the measures risk fueling inflation and inflaming relations with crucial allies. Retaliatory tariffs have already erased gains this year for corn and soybeans and revenue from cash crops is expected to fall for a third year in 2025.
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