President Trump pauses tariffs on Canada and Mexico
President Donald Trump has paused the implementation of 25% tariffs on imports from Canada and Mexico for 30 days after reaching agreements with their leaders."We had a great talk with Mexico," Trump said Monday.President Trump announced the delay after speaking with Mexico's President Claudia Sheinbaum."President Sheinbaum is a woman I like very much. We've had good relationships, but we have to stop fentanyl from coming in whether I like somebody or not. We have to stop the illegal aliens," Trump said.Mexico's president agreed to send 10,000 troops to the U.S.-Mexico border."We finally reached an agreement that is to place more national guards on the northern border," President Sheinbaum said.Trump also delayed imposing 25% tariffs on Canada after speaking with Prime Minister Justin Trudeau, who pledged Canada would provide additional support at the border. Over the weekend, Trudeau vowed Canada would retaliate if the U.S. went forward with its tariffs."Canada will be responding to the U.S. trade action with 25% tariffs against $155 billion worth of American goods," Prime Minister Trudeau said.American consumers are expected to feel the impact of Trump's tariffs, with higher prices anticipated for cars, groceries, and gas, particularly in the Midwest."It's been estimated that the average cost for a consumer in the United States is about $800 to $1,000 a person. So, for a family of four, just do the math," said Mark Hamrick, an economic analyst at Bankrate.Economic analysts warn that once the tariffs take effect, the impacts will be immediate. President Trump says his administration plans to negotiate with Mexico over the next 30 days but maintains that tariffs are not off the table.Trump has also threatened import taxes with the European Union and potentially with the United Kingdom as well.
President Donald Trump has paused the implementation of 25% tariffs on imports from Canada and Mexico for 30 days after reaching agreements with their leaders.
"We had a great talk with Mexico," Trump said Monday.
President Trump announced the delay after speaking with Mexico's President Claudia Sheinbaum.
"President Sheinbaum is a woman I like very much. We've had good relationships, but we have to stop fentanyl from coming in whether I like somebody or not. We have to stop the illegal aliens," Trump said.
Mexico's president agreed to send 10,000 troops to the U.S.-Mexico border.
"We finally reached an agreement that is to place more national guards on the northern border," President Sheinbaum said.
Trump also delayed imposing 25% tariffs on Canada after speaking with Prime Minister Justin Trudeau, who pledged Canada would provide additional support at the border.
Over the weekend, Trudeau vowed Canada would retaliate if the U.S. went forward with its tariffs.
"Canada will be responding to the U.S. trade action with 25% tariffs against $155 billion worth of American goods," Prime Minister Trudeau said.
American consumers are expected to feel the impact of Trump's tariffs, with higher prices anticipated for cars, groceries, and gas, particularly in the Midwest.
"It's been estimated that the average cost for a consumer in the United States is about $800 to $1,000 a person. So, for a family of four, just do the math," said Mark Hamrick, an economic analyst at Bankrate.
Economic analysts warn that once the tariffs take effect, the impacts will be immediate. President Trump says his administration plans to negotiate with Mexico over the next 30 days but maintains that tariffs are not off the table.
Trump has also threatened import taxes with the European Union and potentially with the United Kingdom as well.