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Mexico, Canada avoid tariffs — for nowPRESIDENT TRUMP AGREED TO PAUSE TARIFFS on Mexico and Canada for one month after both countries pledged to bolster border security and crack down on the flow of fentanyl into the U.S.
It’s been a nail-biter of a day, with two of the nation’s top trade partners seeking to avoid an all-out trade war with the U.S.
Tariffs were scheduled to go into affect at midnight.
Early Monday, Trump said he would delay tariffs on Mexico for one month after a “friendly” conversation with Mexican President Claudia Sheinbaum.
Negotiations will continue, but Trump said Sheinbaum “agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States.”
Trump had cited illegal immigration, the influx of illegal drugs and a trade imbalance with Mexico as his primary concerns.
The tariffs on Canada went down to the wire, with Trump and Canadian Prime Minister Justin Trudeau speaking twice by phone, including a call that dragged into the early evening.
Trudeau announced on X that Canada agreed to send 10,000 troops to the border and will provide new choppers and technology to address illegal immigration. Canada will also appoint a Fentanyl Czar, designate cartels as terrorist organizations and launch a “Canada- U.S. Joint Strike Force to combat organized crime.”
Trump has similarly cited the flow of fentanyl and a trade imbalance for imposing tariffs on the U.S. neighbor to the north, but he also appears fixated on pressuring Canada to become a part of the U.S.
“I’d like to see Canada become our 51st state,” he said Monday.
Both Mexico and Canada had been primed to retaliate with tariffs of their own, but that’s on pause for now.
Other countries are on alert. The European Union said it will “respond firmly” if Trump seeks to impose tariffs on its members.
The stock indices closed slightly lower Monday after opening deep in the red over concerns about the escalating trade war.
REPUBLICANS BUCK TRUMP
Trump is meeting some resistance from within his own party over the trade wars, as conservatives have long viewed tariffs as bad economic policy.
Sen. Mitch McConnell (R-Ky.) warned tariffs “will drive the cost of everything up.”
Sen. Chuck Grassley (R-Iowa) pleaded with Trump to exempt potash from any potential Canadian tariffs, saying it will drive up prices for farmers in his state who rely on it for fertilizer.
Sen. Ron Johnson (R-Wis.) said he shares the “market’s concerns” with tariffs.
“I don’t believe that’s productive,” he told Newsmax’s Wake Up America. "It’s going to hurt Americans, American companies, American exporters. It will hurt American consumers long term.”
TRUMP'S EXPANSIONIST AMBITIONS
• Trump directed his Cabinet secretaries to create an American sovereign wealth fund, while suggesting it could partially own the popular Chinese-owned social media app TikTok.
• Secretary of State Marco Rubio met with Panamanian President José Raúl Mulino over the weekend, amid Trump’s threats to reclaim the Panama Canal.
Mulino said he won’t negotiate over the canal, but he moved to address some of Trump’s concerns about Chinese influence.
Panama will not renew an agreement offering favorable terms to China for infrastructure and development projects.
Additionally, Mulino said he’d conduct an audit of Chinese operated ports along the canal.
“Secretary Rubio made clear that this status quo is unacceptable and that absent immediate changes, it would require the United States to take measures necessary to protect its rights under the Treaty,” the State Department said in a statement.
• Trump said the U.S. will cut off aid to South Africa until it changes its land ownership laws, which he says are discriminatory against white people.
“South Africa is confiscating land, and treating certain classes of people VERY BADLY,” he posted on Truth Social. 'It is a bad situation that the Radical Left Media doesn’t want to so much as mention. A massive Human Rights VIOLATION, at a minimum, is happening for all to see.”
• Trump will meet with Israeli Prime Minister Benjamin Netanyahu at the White House on Tuesday as they seek to maintain the fragile ceasefire and hostage release deal between Israel and Hamas.
?Perspectives:
• BIG: What did Trump just do on tariffs?
• The Free Press: Trump starts a trade war for no good reason.
• The Wall Street Journal: The dumbest trade war fallout begins.
• The Toronto Star: Canada didn’t want this trade war but now we must fight it.
Read more:
• In immigration crackdown, Trump targets legal pathways.
• Trump ordered precision military strike against senior ISIS planner.
• Venezuela frees 6 Americans after Maduro, Trump envoy meet.
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