Unlock Watch Watch Watch FREE
Your guide to what US elections in 2024 mean for Washington and the world
US President Donald Trump stopped extensive tariffs on Mexico and Canada just hours before they came into force, and pulled North America back from the brink of a malicious trade war.
Delay solution Tariffs On Monday, the two largest business partners of America were announced a month after a separate bilateral call between Trump and Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.
Trump's conversion was followed by a weekend announcement of huge doses in Canada, Mexico and China, nervous allies and investors.
In addition, 10 % of the tariff on China, above and over existing doses, must still be manifested. The US President is expected to talk to Chinese leader Xi Jinping in the coming days, said the White House on Monday.
Sheinbaum and Trudeau agreed to place 10,000 soldiers on the US borders and drug -fighting trade and won them for a 30 -day retribution of fees that would disturb hundreds of billions of dollars a year in the store and potentially ignited the title for Dat.
As part of the border measures package, Trudeau undertook to provide financing of $ 200 million ($ 138.56 million) associated with “organized crime and fentanyl” and the appointment of “Fentanyl Car”.
Canada will also present cartels as terrorist organizations and start “Canadian American common strike strength to fight organized crime, fentanyl and money laundering”.
“The tariffs announced on Saturday will be suspended for 30 days to see if the final economic agreement with Canada could be structured,” Trump said on his true social platform on Monday and had a few hours earlier that he would hold and the moon “negotiations” with Mexico.
Canadian dollar, Mexican peso and US stocks hit early Monday afterwards Trump At the weekend he said he would follow with threats to hit Canada and Mexico with 25 % of tariffs, with several carving. The tariffs were expected to have a deep impact on businesses and a wider economy in all three countries.
On Tuesday, timely trading increased in Asian-Tichoral events. However, shares on Wall Street walked out their losses sharply when Trump rejected his attitude to immediate tariffs. Canadian dollar and peso also recovered by Monday evening.
“It is a huge relief, agreement,” said Flavio Volpe, President of the Canadian Association of Automotive Parts, an industry that was expected to keep a heavy blow from tariffs.
Despite the White House break on Monday evening, he said that “if illegal migration and an illegal drug crisis are deteriorating, and if the Mexican government is not sufficient to alleviate these crises, the President will take the necessary steps to deal with the situation”.
Trump insists that the tariffs on Mexico and Canada are needed to make both countries to make more to stop the transition of migrants and drugs to the US.
American companies pushed back against tariffs and warned that they would increase prices for Americans and increase supplier chains.
Sheinbaum said that her call with Trump, which she described as a “good conversation”, lasted about 45 minutes and explained that Mexican fears of smuggling sophisticated weapons from the US that were used by the criminal groups of the country. She added that the US President agreed to help stop trading with weapons.
The Mexican leader said Trump also caused a business deficit between the two countries.
“I told him that it wasn't really a deficit that we had a business agreement, that we were business partners and that it was the result of business partners; in both directions it was the best way to keep competition with China and other regions of the world, “Sheinbaum said.
Trudeau said he had a “good call” with Trump and added that “Canada implements our border plan of 1.3 billion C-composering the border with new helicopters, technology and staff, improved coordination with our American partners and increased resources Stop the flow fentanyl. ”
