(CLO) On Monday, US President Donald Trump paused plans to impose high tariffs on Mexico and Canada for 30 days in exchange for concessions on border enforcement and crime with the two neighboring countries.
However, US tariffs on China will still take effect today (February 4).
Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to step up border enforcement efforts in response to Trump’s demands to crack down on immigration and drug trafficking. That would suspend the 25% tariffs that took effect Tuesday for 30 days.
Canada has agreed to deploy new technology and personnel along the border with the United States and launch cooperative efforts to combat organized crime, fentanyl trafficking and money laundering.
Mexican President Claudia Sheinbaum. Photo: X/Claudia Sheinbaum
Mexico has agreed to reinforce its northern border with 10,000 National Guard members to stem the flow of illegal migrants and drugs. Sheinbaum said the U.S. is also committed to stopping the flow of heavy weapons to Mexico.
"As President, it is my responsibility to keep ALL Americans safe and I am doing just that. I am very pleased with the initial results," Mr. Trump shared on social media.
After speaking by phone with both leaders, the US president said he would try to negotiate economic deals next month with the country's two largest trading partners, countries whose economies have been closely tied to the United States since a landmark free trade agreement was signed in the 1990s.
However, no such deal appears to be in sight for China, which faces a comprehensive 10% tariff on all goods scheduled to take effect today. A White House spokesman said Mr Trump would not speak to Chinese President Xi Jinping until the end of the week.
China sees fentanyl as America's problem and has said it will challenge the tariffs at the World Trade Organization and take other countermeasures, but has also left the door open to negotiations.
On Sunday, Mr Trump said the 27-nation European Union would be his next target, but did not say when.
EU leaders at an informal summit in Brussels on Monday said Europe would be prepared to fight back if the US imposed tariffs, but also called for reason and negotiation. The United States is the EU’s largest trade and investment partner.
Mr Trump hinted that the UK, which left the EU in 2020, might not be subject to tariffs.
Hoang Huy (according to ABC, Reuters, NYT)
Source: https://www.congluan.vn/canada-va-mexico-agree-to-cede-bo-duoc-ong-trump-tam-dung-ap-thue-post332874.html
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