Canada's Prime Minister Justin Trudeau says that US President Donald Trump's tariffs on imports from Canada will be delayed 30 days, following suit of Mexico's President Claudia Sheinbaum. The announcement comes after a "good call" between Trudeau and Trump.
The prime minister writes, "Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, launch a Canada-US joint strike force to combat organized crime, fentanyl, and money laundering. I have also signed a new intelligence directive on organized crime and fentanyl and we will be backing it with $200 million."
Center for the Study of the Presidency and Congress (CSPC) Eisenhower fellow and Dr. Scholl Foundation vice chairman Dan Mahaffee joins Asking for a Trend with Josh Lipton to share his live reaction to the breaking news on Trump's tariff policies.
"It shows that this pressure that they're using and getting a similar deal, like with Mexico, hopefully for markets providing some calm," Mahaffee says, adding, "a reminder that we could just be buckling up again in 30 days unless we really see some progress in the standards that this president wants [to be] met."
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Mahaffee says that he thinks Trump sees tariffs as "a policy Swiss Army knife," explaining the US president seems to be using the tariffs as a negotiation tactic, and claims they could bring manufacturers to the US, among other claims like offsetting tax cuts.
"The question will ultimately be, does that economic vision fit in a globalized economy that really isn't one that reflects what it was like when there was that golden age of tariffs in the 19th and early 20th century?"
To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
This post was written by Naomi Buchanan.