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Donald Trump stopped the main tariffs on Mexico and Canada a few hours before they needed to enter into force, causing the market on Whipsaw, while investors and companies fought to absorb the announcement of the white house policy.
The contracts, which will be held on tariffs for a month on two largest American trading partners, were announced after separate bilateral calls between Trump and Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.
On Monday morning, Sheinbaum said Trump delayed 25 percent tariffs After promising to send 10,000 troops of the National Guard to the border with the US to fight the drug trade,
“It was a good conversation, respectful,” she said. “It’s about cooperation, coordination, without losing sovereignty.”
Later on Monday, Trudeau said that Trump had arranged a similar break with Canada, in exchange for Ottawa, agreeing to 10,000 “staff in the first place” working on the border.
Trump’s announcement on Friday night High tariffs to Mexico, Canada and China He marked his first major main move of economic policy since he has re -assuming his duties on January 20, raising investors and US allies with Lupa towards protectionism.
The Mexican peso fell as much as 3 percent compared to the dollar on Monday, but it increased after a break was announced. Shares in car manufacturers With integrated supply chains across North America, he dropped abruptly, and General Motors fell 6 percent before matching losses.
Trump has confirmed a months -long break with Mexico and Canada in social media posts. He described his call with Sheinbaum as a “friendly conversation”.
He added that US Minister of Finance Scott Beesent, the Secretary of the Howard Lutnick Store and Secretary of State Marco Rubio will have talks with Mexican officials at a high level of trade and security.
“I look forward to participating in these negotiations, with President Sheinbaum, as we try to achieve a” agreement “between our two countries,” Trump wrote.
Canadian Prime Minister Justin Trudeau spoke to Trump on Monday afternoon, they wrote on the X that “the proposed tariffs will be paused for at least 30 days while working together.”
A thirty -day return means that the contract expired during the last day of Trudeau before the new Liberal Libera leader was elected on March 9, setting another round of uncertain negotiations.
A senior Canadian official said the Government would hold a cabinet meeting on Monday night to talk about how to spend an agreement with Trump.
The Canadian dollar has been reduced previously refused to trade an apartment against Greenback, in the middle of a contract for a contract, while a US currency measure against six other peers gave up earlier gains to only 0.1 percent on the store day.
The US stock indexes were also compared to the earlier drop, and the S&P 500 closed 0.8 percent lower, compared to a fall of almost 2 percent at the start of trading on Monday.
Trump insists that the tariffs on Mexico and Canada are needed to make two countries more to stop migrants and drugs as they cross into the US.
US companies have returned against plans, warning that they will encourage the prices of Americans and increase the supply chains.
Sheinbaum said her call with Trump lasted about 45 minutes and explained to Mexico’s concern about the smuggling of sophisticated weapons from USA used criminal groups of the country. She added that the US president agreed to help stop the weapon trade.
The Mexican leader said Trump also made a trade deficit between the two countries.
“I told him that in reality it was not a deficit, that we have a trade agreement, that we are trade partners and that this is the result of being trade partners; and in any case it was the best way to continue to compete against China and others World regions, “sheinbaum said.
