US President Donald Trump announced that tariffs on Canada and Mexico, which had been on hold for nearly a month, will be implemented on March 4, according to a Truth Social post on Thursday. He also revealed that an additional 10% tariff on Chinese imports will take effect the same day.

The announcement followed a press briefing where Trump hinted at imposing 25% duties on vehicles and other goods from the European Union. He also reaffirmed that April 2 remains the target date for implementing his broader reciprocal tariff policy.

Initially, the 25% tariffs on Canada and Mexico were scheduled for February 4, but they were postponed after both nations agreed to address fentanyl trafficking concerns. However, Trump stated that drug inflows into the U.S. remain at “unacceptable levels,” prompting him to proceed with the tariffs.

These tariffs are expected to have a significant impact on North American manufacturing, particularly in the automotive, steel, and machinery industries, which rely heavily on cross-border supply chains. Industry experts warn that higher import costs could disrupt production, increase prices for consumers, and lead to shifts in sourcing strategies.