Tuesday Briefing: A Tariff Deal With Mexico
President Claudia Sheinbaum of Mexico made a deal yesterday with the Trump administration to delay tariffs for a month, just hours before the punishing levies were set to go into effect. Canada remained in a perilous spot as the country faced hefty 25 percent tariffs on its exports to the U.S.
Trump also moved ahead with plans for a 10 percent tariff against China and warned that the European Union would be next. Stocks dropped sharply on Wall Street after markets in Asia and Europe tumbled, but bounced back after the deal with Mexico was announced.
A reprieve: Mexico and the U.S. reached a series of agreements on border security, including a promise by Mexico to send 10,000 more troops to the border.
Trump-Trudeau talks: Shortly before a phone call with Prime Minister Justin Trudeau, Trump repeated a litany of complaints against Canada. “We aren’t treated well by Canada,” he said. Trump said that the U.S. did not need Canada to make cars, and didn’t need Canadian lumber or agricultural products. He again said he would like to see Canada become the 51st state. Follow our live coverage.