In a strategic move, U.S. President Donald Trump announced on Monday that the tariffs imposed on Canada and Mexico will be paused for a 30-day period. This pause allows both nations to explore the possibility of structuring a final economic deal.
Trump stated on Truth Social, \"Canada has agreed to ensure we have a secure Northern Border and to finally end the deadly scourge of drugs like fentanyl.\" This suspension follows the recent tariff increase, which drew significant opposition and retaliatory measures from Canada.
Canadian Prime Minister Justin Trudeau echoed the sentiment, mentioning a productive conversation with Trump. He highlighted Canada’s commitment to enhancing border security with new helicopters, technology, and personnel. Trudeau also announced the appointment of a fentanyl czar and the formation of a Canada-U.S. Joint Strike Force to combat organized crime and drug trafficking, backed by a $200 million investment.
Earlier, Trump had imposed a 25% tariff on Canadian imports and a 10% increase on Mexican imports, alongside a 10% hike on Chinese goods. These actions led Canada to retaliate with equivalent tariffs on American products worth $107 billion.
Additionally, Trump reported a positive discussion with Mexican President Claudia Sheinbaum, resulting in a mutual agreement to pause tariffs for a month while negotiations continue. This development signals a potential thaw in trade relations among the three nations.
Reference(s):
cgtn.com
