President Donald Trump has agreed to pause the implementation of planned tariffs on imports from Canada and Mexico for at least 30 days. This decision followed successful diplomatic negotiations between Trump, Canadian Prime Minister Justin Trudeau, and Mexico's president. The announcement came after Trump had initially revealed plans to impose 25% tariffs on goods from both Mexico and Canada, alongside a 10% tariff on energy resources from Canada, and 10% tariffs on goods imported from China.
The pause in tariffs was announced after Trudeau reached out to President Trump in an effort to mitigate the potential economic impact. Trudeau confirmed the development in a tweet, stating:
"I just had a good call with President Trump," – Justin Trudeau
The move to pause the tariffs also coincides with Canada's commitment to addressing the cross-border flow of fentanyl, a potent opioid responsible for thousands of deaths in the United States. Canada has agreed to appoint a Fentanyl Czar as part of its efforts to target this issue, which played a pivotal role in the decision to delay tariff implementation.
Trudeau's announcement of the tariff pause was echoed by both Trump and Mexico's president. The pause provides a temporary reprieve for Canadian goods, aligning with Mexico's one-month tariff suspension. In a statement, Trudeau emphasized the collaborative nature of the discussions:
"Proposed tariffs will be paused for at least 30 days while we work together," – Justin Trudeau
The pause was announced shortly after Trump's initial declaration to impose tariffs on Mexican and Canadian goods. The decision to delay was influenced by ongoing diplomatic talks and commitments made by Canada to tackle the opioid crisis.
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