President Donald Trump has decided to pause tariffs on Canada and Mexico, delaying the imposition of new tariffs on goods from its two closest economic partners. This is the third time in two weeks that Trump has postponed his threatened 25% tariffs on these countries. However, China is still set to face an additional 10% levy on its exports to the US starting Tuesday.
Following talks with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, Trump agreed at the last minute to hold off from imposing new duties on the two countries. This move comes amidst extreme volatility in global financial markets as investors react to the escalating trade dispute between the world’s largest economies.
Meanwhile, the Trump administration is also opening investigations into allegations of antisemitism at five US universities, including Columbia and the University of California, Berkeley. In addition, Trump has invited Indian Prime Minister Narendra Modi to visit the White House next week to discuss immigration and trade relations.
In other news, the US Senate has confirmed fracking CEO Chris Wright to be Trump’s energy secretary, despite his controversial views on climate change. Additionally, China is set to face new tariffs on mailed packages entering the US, under an executive order to be implemented on Tuesday.
Lastly, Mexican President Claudia Sheinbaum has managed to secure a deal with Trump to temporarily halt tariffs, winning praise for her measured approach in negotiations with the US president. She has been commended for her strategic efforts in addressing issues related to migrants crossing the border and drug smuggling.
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