Just two days after he started a global trade war, Donald Trump is already walking back some of the tariffs he implemented—again.
In a Truth Social post Thursday, the president announced Mexico will not pay tariffs on any products that comply with the United States-Mexico-Canada Agreement, or USMCA, until April 2.
On Tuesday, Trump implemented 25 percent tariffs on Mexico and Canada, a disastrous move that plummeted financial markets and prompted retaliatory actions from both American trading partners.
Following the news, Mexican President Claudia Sheinbaum took a measured approach to dealing with the reactionary American leader. She promised to safeguard Mexico’s interests and announced she would implement tariffs of U.S. goods, but not until Sunday, giving her and Trump enough time to negotiate a deal. It worked.
“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement.” Trump wrote on Truth Social Thursday. “I did this as an accommodation, and out of respect for, President Sheinbaum.”
It’s just the latest walkback from Trump, who is endlessly flip-flopping on a decision that would spur economic catastrophe across the U.S. and abroad.
He first threatened to impose tariffs on February 1, but later agreed to a 30-day pause after widespread backlash. After finally beginning the tariffs on Tuesday, he’s already granted a one-month exemption to U.S. automobile companies, and now to USMCA products.
Who knows what the next move will be in Trump’s relentless pursuit to implement tariffs, and rid the U.S. of its allies while he’s at it.
The post Trump Suddenly Rolls Back Some Mexico Tariffs After Trade War Fears appeared first on New Republic.
