Days after announcing a 25% tariff on imports from Canada and Mexico, President Donald Trump agreed to delay them for one month after leaders from Canada and Mexico announced moves to ramp up security at their borders — averting, at least for now, tariffs that could have driven up prices for U.S. consumers and stalled the countries' economies.
President Donald Trump on Monday held off on his tariff threats against Mexico and Canada for 30 days after the two U.S. neighbors agreed to boost border security efforts. Trump on Saturday had directed that 25% tariffs on most imports from the two American partners — and 10% on Canadian energy products — go into effect at midnight Tuesday. The two nations threatened retaliation of their own, raising the prospects of a broader regional trade war.
Canada has reached an agreement with President Trump to pause tariffs for 30-days, Canadian Prime Minister Justin Trudeau said in a social media post. Canada has agreed to put 10,000 frontline personnel on the border, will appoint a fentanyl czar, list cartels as terrorists and launch a Canada-U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering, said Trudeau. "I just had a good call with President Trump," Trudeau said.
