Domestic Market Updates –
Diesel update: The average price of diesel increased, this time by 1.8 cents a gallon. Putting the average price of diesel at $3.567, per the U.S. EIA. The only region seeing a decrease in diesel was the East Coast (dropping 0.4 cents). While the Midwest (up 2.8 cents), West Coast (up 2.6 cents), Gulf Coast (up 2 cents), and the Rocky Mountain (up 3.9 cents) regions all saw diesel prices boosting.
Tariffs:
Canada and Mexico: President Trump has delayed the 25% tariffs on imports (including automotive products) from Mexico and Canada until April 2nd, per Executive Orders.
During this delay, importers will not be required to pay tariffs on imports from either Mexico and/or Canada, that adhere to the U.S. – Mexico – Canada Agreement. Per NBC News, that’s about 50% from Mexico and 38% of goods from Canada.
Steel/Aluminum: New tariffs on steel and aluminum went into effect March 12th at 12:01am EST.
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