Trump announced a 30-day delay on tariffs for Canada and Mexico after securing commitments on border security. Mexico agreed to deploy 10,000 soldiers to curb fentanyl smuggling, while Canada pledged $1.3 billion for border security, including appointing a "fentanyl czar." Markets initially plunged but rebounded after the tariff pause. Meanwhile, a 10% tariff on Chinese imports remains, with Trump warning of increases if fentanyl exports persist. China dismissed US concerns and plans to challenge the tariffs at the WTO. Despite the postponement, Trump signalled further tariff actions may follow, keeping trade tensions high. High-level negotiations continue.
first published: Feb 4, 2025 05:33 pm
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