Trump's tariffs on Canada and Mexico are set to kick in tomorrow and the deadline for any negotiations is starting to narrow. We've had a month of dilly-dally but we're back in the same spot as we were previously in February. It was never about fentanyl and this latest potential concession by Mexico makes it rather clear.
I suspect even on the latter, it might not be the full 25% tariffs touted initially. US commerce secretary Lutnick had said over the weekend that the "situation is fluid" but "there are going to be tariffs on Tuesday". However, he added that "exactly what they are, we're going to leave that for the president and his team to negotiate".
So far in the first 42 days of his presidency, one can argue that Trump's bark has been more threatening than his bite. We'll have to see if the next 24 hours will be another case of that.
This article was written by Justin Low at www.forexlive.com. Read More Details
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