On Wednesday, U.S. President raised the possibility of delaying new tariffs on imports from Mexico and Canada until April 2 while proposing a 25% levy on European cars and other products. Despite the indication of an April start date, a White House official confirmed that the March 4 deadline for Mexican and Canadian tariffs still stands, awaiting further action on border security and migrant control.
The President's remarks caused fluctuations in the Canadian dollar and Mexican peso. Canadian officials expressed readiness to respond strategically, awaiting official directives. Similarly, Mexican authorities refrained from immediate comments. Trump's trade advisors are considering implementing matching tariffs on other nations and addressing their trade barriers.
Regarding the European Union, Trump hinted at a 25% tariff on various goods, criticizing the EU for trade imbalances. In response, European officials promised swift countermeasures against any unjustified trade barriers. The EU representatives emphasized the benefits of the EU-U.S. trade relationship.
Further developments included the U.S. Senate confirming a new Trade Representative and plans to review the U.S.-Mexico-Canada Agreement. The Trade Representative aims to strengthen trade policies, focusing on safeguarding American businesses and workers. The confirmation was well-received by trade associations, highlighting the importance of a strong and proactive trade agenda.