After announcing 25% tariffs on various imports from Canada and Mexico, Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum made last-minute deals with President Trump to postpone the action for 30 days.
As part of the pause, Mexico agreed to take these actions:
- 10,000 members of the Mexican National Guard will be deployed to the U.S.-Mexico border to stem the flow of fentanyl and illegal migrants into the United States.
- The formation of two groups with U.S. officials — one focused on security and one focused on trade.
Canada agreed to:
- Continue a border plan launched in December that will send Black Hawk helicopters, drones and high-tech security equipment to the border, as well as 10,000 “frontline personnel.”
- Establish a fentanyl czar and commit 200 million Canadian dollars for intelligence gathering on drug cartels and gangs and officially labeling these groups as terrorists.
I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly…
— Justin Trudeau (@JustinTrudeau) February 3, 2025
No deal has been struck with China as of Tuesday morning, as a 10% tariff on all imports from China takes effect. China announced retaliatory tariffs on U.S. goods — 15% tariff on coal and liquefied natural gas products, as well as a 10% tariff on crude oil, agricultural machinery and large-engine cars — that would go into effect on Monday.
Looking for a different take on Trump’s tariffs? Read this: Billionaires, Industry Leaders, and Execs Urge Trump to Rethink ‘Devastating’ Tariffs on Canada and Mexico
A White House spokesperson said Trump has plans to speak with Chinese President Xi Jinping later this week.
When asked about a Wall Street Journal’s editorial that called Trump’s tariff tactics “the dumbest trade war in history,” Trump told reporters gathered in the Oval Office, “Not only is it not dumb, you’re going to see, you’re going to see every single one of those countries is dying to make a deal.”
Leon J. Topalian, CEO of Nucor Corp., the largest steel producer in the U.S., celebrated Trump tariffs in a statement: “Nucor applauds the first steps taken by President Trump in his America First Trade Agenda,” he wrote. “We look forward to working with President Trump to enforce our trade laws and strengthen American manufacturing.”
