The U.S. paused tariffs on Canadian and Mexican goods under their free-trade agreement for about a month. Tod Maffin rules out stock crashes, farmer pressure, and Trump's advisors as reasons. Canada's Foreign Affairs Minister called it a "psychodrama." Next month's auto-sector tariff rules will have no exemptions.
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Breaking news: American tariffs against Canada have been paused for about a month. He says it's not because the American stock market's crashed, or farmers are panicking, or the Republican base was rebelling, or even his hand-picked yes-men were quietly whispering in his ear, "Uh, maybe we should stand down a little." Tariffs are now delayed on both Mexico and Canada for goods that fall under the current free trade agreement. Now, what doesn't fall under that agreement? That's a little messy. It turns out there's no real list, and some things partially fall under it, like Components do, but the fully assembled thing does not? What's Canada's response? Nothing. Counter-terrors maintained. We stand down when you remove all threats of tariffs. He also said there'll be no exemptions, incidentally, for the auto sector once that kicks in next month. Today our Foreign Affairs Minister called this a psychodrama. Our Prime Minister called it Thursday. Elbows stay up.