In a surprising turn of events, U.S. President Donald Trump announced on Monday that the tariffs on Canada and Mexico, which were set to take effect, will be paused for a 30-day period. The decision comes after productive discussions with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, aiming to forge new economic agreements and address pressing issues such as border security and the fight against fentanyl trafficking.
\"Canada has agreed to ensure we have a secure Northern Border and to finally end the deadly scourge of drugs like fentanyl,\" President Trump stated in a post on the social media platform Truth Social. He expressed optimism about the initial outcomes of the negotiations, emphasizing the importance of reaching a final economic deal.
Prime Minister Trudeau echoed this sentiment in a post on X, formerly known as Twitter, saying he \"just had a good call with President Trump.\" Trudeau highlighted that \"proposed tariffs will be paused for at least 30 days while we work together.\"
Canada is implementing a comprehensive $1.3 billion border plan that includes reinforcing the border with new helicopters, advanced technology, and additional personnel. \"Nearly 10,000 frontline personnel are and will be working on protecting the border,\" Trudeau noted. Furthermore, Canada is making new commitments to appoint a fentanyl czar, designate cartels as terrorist organizations, ensure round-the-clock surveillance at the border, and launch a Canada-U.S. Joint Strike Force to combat organized crime, fentanyl trafficking, and money laundering.
Similarly, President Trump mentioned a \"very friendly conversation\" with Mexican President Claudia Sheinbaum. The two leaders agreed to \"immediately pause\" the anticipated tariffs for one month to continue negotiations. This pause in tariffs provides a window for the United States, Canada, and Mexico to address mutual concerns and strengthen economic ties.
The initial tariff orders, signed by President Trump on Saturday, had called for an additional 25 percent tariff on imports from Canada and Mexico and a 10 percent tariff hike on imports from China, sparking widespread opposition and immediate retaliatory measures. Canada had promptly responded with 25 percent tariffs on 155 billion Canadian dollars ($107 billion) worth of American goods.
As negotiations proceed, businesses and investors across North America are closely monitoring developments, hopeful that a mutually beneficial agreement can be reached. The coming weeks will be crucial in determining the future of trade relationships and economic cooperation among these neighboring nations.
Reference(s):
cgtn.com
