Two days after putting 25% tariffs on goods from Mexico and Canada, President Trump said on Thursday that he will largely lift them — the latest twist in his on-again, off-again approach to an issue that has sent markets into a tailspin.
Trump started to tap the brakes on the tariffs on Wednesday, after talking to the Big Three U.S. automakers. And then after a conversation with Mexican President Claudia Sheinbaum on Thursday, he said on social media that he would give a break to all Mexican goods covered by the United States-Mexico-Canada Agreement (USMCA).
A few hours later, he signed executive orders that included relief for Canadian goods covered by the USMCA.
Trump told reporters the shift had nothing to do with recent market downturns, which he downplayed as "a little short term interruption," blaming foreign countries and "globalist companies" for "ripping off" the United States.
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