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Trump Delays Some Tariffs for One Month
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Trump Delays Some Tariffs for One Month
The AP reported that President Donald Trump granted U.S. automakers a one-month exemption from new tariffs on imports from Mexico and Canada, set at 25% for most goods and 10% for Canadian energy products. This followed immediate retaliation from Mexico, Canada, and China after the tariffs took effect. Negotiations were led by Commerce Secretary Howard Lutnick, who said, “The U.S. would likely meet Canada and Mexico ‘in the middle.’”
The tariffs, aimed at addressing fentanyl trafficking, sparked economic concerns, with markets dropping and fears of inflation rising. Trump acknowledged potential consumer impact during his Tuesday speech, saying tariffs might cause “a little disturbance.” Canada’s Prime Minister Justin Trudeau rejected claims of inadequate border security, asserting, “The U.S.-Canadian border is already safe and secure,” while both nations vowed continued talks to mitigate the trade war’s effects.
The Epoch Times reported:
Lutnick reiterated that these efforts are part of broader efforts to curtail the flow of fentanyl entering the United States.
“This not a trade war; this is a drug war,” he said. “We’re trying to send a message that fentanyl has got to end, coming in from Mexico and Canada.”
RELATED: White House reportedly weighs agricultural exemptions for Mexico, Canada (CNBC)
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