Trump extends tariff exemptions to Canada after dustup with Trudeau – Washington Examiner

President Donald Trump announced​ a temporary exemption ‌from the 25% tariffs on specific imports from Canada and Mexico ⁢during an executive ⁣action. This decision came shortly after the tariffs took effect, which ​had caused stock​ market‌ declines and ‌concerned several sectors, especially ‌agriculture and auto ‌manufacturing. ⁣While Trump indicated a positive conversation ​with mexican president Claudia Sheinbaum regarding border​ security and tariffs, his relationship with Canadian⁢ Prime Minister Justin Trudeau appeared tense, with Trudeau responding to Trump’s‍ initial tariff threats⁤ with ⁣his own retaliatory tariffs.

The tariff pause is seen as a response to⁣ the negative ⁢impacts observed from the tariff implementation,​ and also ongoing discussions regarding the USMCA⁣ trade agreement. Although the exemption applies to certain imports, White​ House officials‌ noted that a⁢ meaningful portion of goods will still be subjected to these tariffs, which ⁤are part of a ⁣broader ​protective strategy ⁣against​ issues like fentanyl‍ importation.upcoming announcements ​on additional tariffs ‌aimed at addressing U.S. trade ⁤deficits are expected soon, potentially heightening tensions⁤ with‍ Canada and Mexico.


Trump extends tariff exemptions to Canada after dustup with Trudeau

President Donald Trump took executive action Thursday, offering a one-month exemption from his 25% tariffs on certain Canadian and Mexican imports.

The Oval Office signing comes just two days after those tariffs went into effect, causing stocks to plummet and raising concerns in several American industries, particularly agriculture and auto manufacturing.

Trump previewed the pause on tariffs for Mexican imports with United States-Mexico-Canada Agreement preferences on social media earlier Thursday but did not offer Canada a reprieve and instead chose to slam Prime Minister Justin Trudeau.

FULL LIST OF EXECUTIVE ORDERS, ACTIONS, AND PROCLAMATIONS TRUMP HAS MADE AS PRESIDENT

“Believe it or not, despite the terrible job he’s done for Canada, I think that Justin Trudeau is using the Tariff problem, which he has largely caused, in order to run again for Prime Minister. So much fun to watch!” Trump wrote in a separate post.

Trudeau announced 25% retaliatory tariffs on the U.S. after Trump refused to back down on the tariff threats, which prompted Trump to rage against the Canadian leader on social media again.

Trump and Trudeau reportedly had a profanity-laced conversation this week as the two leaders discussed fentanyl, dairy, and ending the tariff standoff. Trudeau called the conversation “colorful” afterward and claimed the trade war is likely to continue “for the foreseeable future.”

Trump’s phone call with Mexican President Claudia Sheinbaum, however, appeared to be quite friendly. Trump praised her cooperation on border security matters and announced a pause until April 1 on the 25% tariffs for all Mexican imports claiming USMCA preferences.

Hours later, the White House announced a new executive action affirming the tariff pause would include both Mexico and Canada.

The move is an about-face from Trump, who repeatedly stressed that 25% tariffs against Canada and Mexico would go into effect Tuesday.

During his joint address to Congress on Tuesday evening, Trump warned a “little disturbance” could be on the horizon due to the Canada and Mexico tariffs and the additional 10% tariffs against China.

Economists have warned that tariffs on the nation’s three largest trade partners could risk a recession, although not as severe as the Great Depression. In the days before and after the tariffs went into effect, the stock market tanked, likely ramping up pressure on Trump to tamp down any possible trade wars.

Since then, Trump offered carve-outs to automakers after meeting with representatives from the big three American auto manufacturers at the White House on Wednesday.

Senior White House officials said these new exemptions evolved from those conversations, not as a reaction to the recent downturn in stock markets.

The U.S. and its northern and southern neighbors adopted the USMCA during Trump’s first term in office to replace the North American Free Trade Agreement. Trudeau and Sheinbaum argued that Trump’s 25% tariffs, including the 10% carve-out for energy imports from Canada, violated USMCA.

Still, the majority of goods traded between the U.S., Canada, and Mexico are not covered by the USMCA. White House officials estimate that 50% of imports from Mexico and 62% of goods coming in through Canada will still be subject to the president’s new tariffs.

White House officials would not say if companies eligible for but not already claiming USMCA preferences will be able to do so and gain Thursday’s exemptions.

The White House remains adamant that the 25% tariffs, along with a separate 20% tariff on Chinese imports, are focused on saving American lives from fentanyl and could be dropped entirely if the three countries involved make substantive progress on the issue over the next month.

FOR HUNTER, THE BIDEN BUSINESS GOES BUST

Trump is slated to announce another round of “reciprocal tariffs” on or around April 2 aimed directly at offsetting U.S. trade deficits that would stack on top of any existing tariffs, including his 25% taxes on imports of steel, aluminum, and their downstream products.

“We’re going to move into the reciprocal tariffs, and hopefully Mexico and Canada will have done a good enough job on fentanyl that this part of the conversation will be off the table,” Commerce Secretary Howard Lutnick said in a statement.



" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases

Leave a Reply

Your email address will not be published. Required fields are marked *

Sponsored Content
Back to top button
Available for Amazon Prime
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker