Mexico and Canada avoided fresh tariffs on Wednesday with President Donald Trump exempting the United States' top trading partners from his new 10% global tariff baseline, although previous duties remain in place.

Previously, Canada and Mexico were among the first nations—alongside China—to face 25% tariffs, which took effect shortly after Trump's initial announcement. But on April 2, both countries appeared to be absent from his latest round of trade measures, which have escalated global trade tensions and raised concerns about economic instability.

"If this tariff war continues, it could devastate Upstate NY’s economy in ways we haven’t seen since the height of the pandemic."

President Donald Trump unveiled sweeping new tariffs on Wednesday, which the White House dubbed "Liberation Day." "This is one of the most important days in my opinion in American history," Trump said during a press conference at the Rose Garden,