Berliner Boersenzeitung - Trump announces talks with Canada, Mexico over sweeping tariffs

EUR -
AED 3.789561
AFN 76.963648
ALL 98.873227
AMD 414.991487
ANG 1.872018
AOA 942.496424
ARS 1086.78393
AUD 1.644896
AWG 1.859704
AZN 1.755347
BAM 1.956693
BBD 2.097217
BDT 126.667834
BGN 1.953143
BHD 0.388861
BIF 3075.044386
BMD 1.031736
BND 1.402813
BOB 7.177277
BRL 6.006252
BSD 1.038654
BTN 90.860164
BWP 14.367281
BYN 3.399319
BYR 20222.026915
BZD 2.086412
CAD 1.479659
CDF 2945.606364
CHF 0.939581
CLF 0.025926
CLP 994.882423
CNY 7.537551
CNH 7.543327
COP 4274.183322
CRC 529.431463
CUC 1.031736
CUP 27.341006
CVE 110.315367
CZK 25.085641
DJF 184.970868
DKK 7.459514
DOP 64.448176
DZD 139.776663
EGP 51.900464
ERN 15.476041
ETB 132.91671
FJD 2.387234
FKP 0.849724
GBP 0.832322
GEL 2.868587
GGP 0.849724
GHS 16.048327
GIP 0.849724
GMD 74.285247
GNF 8979.925955
GTQ 8.031706
GYD 217.749419
HKD 8.037281
HNL 26.472574
HRK 7.613746
HTG 135.859397
HUF 404.685574
IDR 16853.976111
ILS 3.676148
IMP 0.849724
INR 90.240021
IQD 1360.721274
IRR 43436.088007
ISK 146.60891
JEP 0.849724
JMD 164.121753
JOD 0.731912
JPY 156.955428
KES 133.248416
KGS 90.225315
KHR 4172.824327
KMF 491.621567
KPW 928.562575
KRW 1496.104976
KWD 0.31859
KYD 0.865595
KZT 529.671836
LAK 22567.084885
LBP 93016.867817
LKR 308.757979
LRD 206.700368
LSL 19.146556
LTL 3.046448
LVL 0.624087
LYD 5.10023
MAD 10.392645
MDL 19.475703
MGA 4894.13968
MKD 61.450191
MMK 3351.0385
MNT 3505.839267
MOP 8.333605
MRU 41.600187
MUR 48.491786
MVR 15.899504
MWK 1801.087422
MXN 21.286467
MYR 4.612135
MZN 65.938518
NAD 19.146742
NGN 1554.166382
NIO 38.226712
NOK 11.575098
NPR 145.375557
NZD 1.825611
OMR 0.397204
PAB 1.038674
PEN 3.860162
PGK 4.171824
PHP 59.970726
PKR 289.85042
PLN 4.182833
PYG 8192.581734
QAR 3.787129
RON 4.977304
RSD 117.062882
RUB 100.208347
RWF 1464.540286
SAR 3.869066
SBD 8.714882
SCR 14.772718
SDG 620.073246
SEK 11.268792
SGD 1.396939
SHP 0.849724
SLE 23.461609
SLL 21634.989377
SOS 593.659543
SRD 36.219092
STD 21354.853522
SVC 9.08915
SYP 13414.632329
SZL 19.140368
THB 35.004745
TJS 11.368791
TMT 3.621394
TND 3.317215
TOP 2.416432
TRY 37.142767
TTD 7.047218
TWD 33.849712
TZS 2652.776065
UAH 43.050521
UGX 3814.741724
USD 1.031736
UYU 45.180847
UZS 13459.145138
VES 62.350753
VND 26195.778743
VUV 122.489778
WST 2.889714
XAF 656.243905
XAG 0.031999
XAU 0.000355
XCD 2.788318
XDR 0.796648
XOF 656.243905
XPF 119.331742
YER 256.954213
ZAR 19.005765
ZMK 9286.861617
ZMW 29.057704
ZWL 332.218593
  • RYCEF

    -0.0300

    7.42

    -0.4%

  • RBGPF

    67.2100

    67.21

    +100%

  • CMSC

    -0.0700

    23.37

    -0.3%

  • SCS

    -0.2200

    11.36

    -1.94%

  • NGG

    -0.1300

    61.54

    -0.21%

  • CMSD

    -0.0800

    23.75

    -0.34%

  • GSK

    -0.3400

    36.04

    -0.94%

  • BCC

    -1.8300

    123.28

    -1.48%

  • BTI

    0.1400

    41.76

    +0.34%

  • RIO

    -0.2400

    61.95

    -0.39%

  • VOD

    0.1300

    8.57

    +1.52%

  • JRI

    -0.0200

    12.81

    -0.16%

  • BCE

    -1.3800

    22.14

    -6.23%

  • AZN

    -0.3700

    71.99

    -0.51%

  • RELX

    -0.4100

    49.99

    -0.82%

  • BP

    0.3100

    32.27

    +0.96%

Trump announces talks with Canada, Mexico over sweeping tariffs
Trump announces talks with Canada, Mexico over sweeping tariffs / Photo: Mandel NGAN - AFP/File

Trump announces talks with Canada, Mexico over sweeping tariffs

President Donald Trump said he will discuss the punishing tariffs he has levied on Canada and Mexico with both countries on Monday, after arguing that Americans may feel economic "pain" from the 25 percent duties but that it will be "worth the price."

Text size:

Speaking to reporters after he flew back to Washington Sunday evening from a weekend in Florida, Trump said he was "speaking with Prime Minister (Justin) Trudeau tomorrow morning, and I'm also speaking with Mexico tomorrow morning."

"I don't expect anything very dramatic," he added.

Trump has also hit China with a 10-percent tariff in addition to levies already in place.

A fervent supporter of tariffs, Trump had always maintained that their impact would be borne by foreign exporters, without being passed on to American consumers, contradicting the opinion of a broad range of experts.

Earlier Sunday he acknowledged, in a series of messages on his Truth Social network, that Americans may feel economic "pain" from his tariffs, but argued it would be "worth the price" to secure US interests.

China, Mexico and Canada are the top three US trade partners and all have vowed to retaliate when the tariffs take effect Tuesday.

"Will there be some pain? Yes, maybe (and maybe not!)" Trump wrote Sunday morning in all-caps on his Truth Social media platform.

"But we will Make America Great Again, and it will all be worth the price that must be paid."

Analysts expect the trade war to slow US growth and increase prices, at least in the short term, something the president had resisted acknowledging after frustration over rising costs was seen as a major factor in his 2024 election win.

Seeking to limit a spike in fuel prices, Trump has put the levy on energy imports from Canada at only 10 percent.

The president has cited illegal immigration and the trafficking of the deadly opioid fentanyl as reasons for the "emergency" measures.

But on Sunday he also expressed general outrage at trade deficits, which he has long viewed as signs of unfair treatment against the United States.

"The USA has major deficits with Canada, Mexico, and China (and almost all countries!), owes 36 Trillion Dollars, and we're not going to be the 'Stupid Country' any longer," he wrote.

The tariffs announcements capped an extraordinary second week of Trump's new term, with the president facing the worst US aviation disaster in years -- even as his administration moved to drastically overhaul the government in actions decried by critics as illegal.

- '51st state' -

In a separate social media post, Trump took particular aim at Canada, repeating his call for America's northern neighbor to become a US state.

Claiming the United States pays "hundreds of billions of dollars to SUBSIDIZE Canada," Trump said that "without this massive subsidy, Canada ceases to exist as a viable Country."

"Therefore, Canada should become our Cherished 51st State," he said, reiterating the expansionist threat against one of his country's closest allies.

The US Census Bureau says the 2024 trade deficit in goods with Canada was $55 billion.

Canadian backlash was swift, with video posted to social media showing fans at a Toronto Raptors game Sunday booing during the US national anthem.

Trudeau vowed Saturday to hit back with 25 percent levies on select American goods worth Can$155 billion (US$106.6 billion), with a first round on Tuesday followed by a second one in three weeks.

Leaders of several Canadian provinces have already announced retaliatory actions as well, such as the immediate halt of US liquor purchases.

The White House has not publicly announced what actions could end the tariffs.

"It's hard to know what more we can do, but we're obviously open to any other suggestions that come our way," Canada's ambassador to the United States Kirsten Hillman told ABC News on Sunday.

- Federal overhaul -

Mexican President Claudia Sheinbaum said she, also, was awaiting Trump's response to her proposal for dialogue.

She said she had directed her economy minister to "implement Plan B," which includes unspecified "tariff and non-tariff measures," promising to detail Monday the steps she intends to take.

Trump said Sunday he also planned to hit the European Union with tariffs "pretty soon," to which the EU said earlier it would "respond firmly."

The drastic trade actions follow similarly sharp efforts by Trump's administration to quickly overhaul the federal government in his first two weeks.

Trump's close ally Elon Musk, the world's wealthiest person, and his so-called Department of Government Efficiency were also pursuing efforts that were not fully clear, including reported attempts to probe federal payment and e-mail systems.

The tumult in the federal government coincided with the collision of an army helicopter and an airliner that killed 67 people in the US capital.

Trump, addressing the crash on Thursday as aviation authorities began their formal investigation, baselessly placed the blame on diversity programs.

(S.G.Stein--BBZ)