Just hours after he rolled back tariffs on Mexico, the president announced Canada will also not pay tariffs on any products that comply with the United States-Mexico-Canada Agreement, or USMCA, until April 2. It’s Trump’s third flip on tariffs in 72 hours.
He signed an executive order Thursday solidifying the one-month tariff delay on products from both countries.
On Tuesday, Trump implemented 25 percent tariffs on Mexico and Canada, a disastrous move that plummeted financial markets and prompted retaliatory actions from both U.S. trading partners.
Canadian Prime Minister Justin Trudeau responded aggressively, immediately implementing retaliatory tariffs on U.S. goods and condemning Trump’s betrayal of a longtime ally.
“Every country is very aware that if the American government is willing to do this to their own closest ally, neighbor, and friend, everyone is vulnerable to a trade war,” Trudeau said in a press conference on Tuesday, bypassing Trump and instead speaking directly to the American people.
“Your government has chosen to put American jobs at risk at the thousands of workplaces that succeed because of materials from Canada, or because of consumers in Canada, or both.”
Trump reacted to Trudeau’s address with hostility, and yet again suggested all of Canada’s problems could be solved by becoming the 51st American state. His dislike for Trudeau seemingly influenced his decision making Thursday morning, when he initially retracted tariffs only on Mexico “out of respect” for Mexican President Claudia Sheinbaum, but not for Canada. Trump on Wednesday also granted a one-month exemption to U.S. automobile companies.
Unsurprisingly, the president has changed his mind yet again, drawing out a trade war that will have disastrous economic consequences.
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