President Donald Trump announced on Friday that his 25 per cent tariffs on imports from Mexico and Canada would again be paused after last-minute negotiations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum.
However, the levies on Chinese goods also set out in Trump’s joint address to Congress, “The Renewal of the American Dream,” will remain in effect. It is widely expected to trigger inflationary pressures on U.S. consumers,
Citing the unchecked circulation of the drug fentanyl as well as its component chemicals, Trump initiated this latest round of the U.S.’s escalating trade wars with all three countries that combined represent $2.2 trillion in trade.
These duties are the most recent in a series of decisions in line with his “America First” isolationist policies. These include scaling back American commitments in Ukraine and gutting USAID funding.
A month ago, Trump initially announced the tariffs but quickly postponed their implementation at the 11th hour after Mexico and Canada agreed to patrol their U.S. border more heavily.
Tariffs were then implemented this week before a deal was struck again.
No such agreement has been reached with China, however, and Foreign Minister Wang Yi warned that “No country should fantasise that it can suppress China and maintain a good relationship with China at the same time.”
“Donald Trump Signs The Pledge” by Michael Vadon is licensed under CC BY-SA 2.0.