President Donald Trump on Thursday postponed 25% tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the
Few countries have bet as heavily on free trade as Mexico and Canada. Now that President Trump’s 25% tariffs have hit both countries, their economies are facing a stress test that rivals the global financial crisis and the pandemic.
President Donald Trump Thursday suspended some of the 25% tariffs he imposed on Mexican and Canadian imports two days earlier. The one-month pause applies to imports that comply with the U.S.-Mexico-Canada trade pact he signed in his first term. Trump gave automakers a similar monthlong reprieve on Wednesday.
It's over for Starlink in Ontario, according to the Canadian province's premier, Doug Ford. Ford said in a press conference Tuesday that due to US tariffs imposed against Canada -- which as of Thursday were delayed until April -- Ontario canceled a $100 million contract with Elon Musk's Starlink satellite company it signed in November.
President Trump suspended tariffs for both countries after Mexico’s leader presented her security successes, and after U.S. markets fell and business leaders urged the White House to change course.
As Canada and Mexico make plans for reciprocal tariffs on U.S. goods, Canadian Prime Minister Justin Trudeau calls President Trump's move "a very dumb thing to do."
The president has launched a trade war seeking to quell the flow of illegal immigrants and the illegal trafficking of drugs and rebalance trade.