Berliner Boersenzeitung - Trump pauses Mexico tariffs as last-ditch Canada talks continue

EUR -
AED 4.074172
AFN 72.108987
ALL 90.824441
AMD 405.33465
ANG 1.98554
AOA 1018.404891
ARS 1713.409223
AUD 1.620889
AWG 1.996872
AZN 1.887436
BAM 1.956353
BBD 2.260039
BDT 139.899538
BGN 1.938997
BHD 0.423314
BIF 3356.748678
BMD 1.109374
BND 1.434505
BOB 13.308421
BRL 6.195071
BSD 1.122102
BTN 105.454803
BWP 15.394143
BYN 3.35975
BYR 21743.721171
BZD 2.256738
CAD 1.580719
CDF 2568.199705
CHF 0.923515
CLF 0.027733
CLP 1091.501218
CNY 7.399909
CNH 7.401707
COP 3639.854549
CRC 507.536577
CUC 1.109374
CUP 26.930611
CVE 110.301642
CZK 24.379485
DJF 199.816472
DKK 7.475353
DOP 68.058314
DZD 151.77448
EGP 59.4034
ERN 16.640603
ETB 182.631746
FJD 2.515671
FKP 0.832791
GBP 0.835663
GEL 2.892377
GGP 0.832791
GHS 13.139714
GIP 0.832791
GMD 82.093697
GNF 9940.85427
GTQ 8.574849
GYD 235.138112
HKD 8.702808
HNL 30.162117
HRK 7.509361
HTG 147.082231
HUF 364.894935
IDR 20156.207651
ILS 3.522094
IMP 0.832791
INR 103.94059
IQD 1701.17279
IRR 2114549.149658
ISK 136.597482
JEP 0.832791
JMD 178.087923
JOD 0.78658
JPY 177.144299
KES 144.130193
KGS 97.014271
KHR 4576.313975
KMF 490.343131
KPW 998.436133
KRW 1478.340206
KWD 0.345426
KYD 0.935064
KZT 500.971584
LAK 25257.138127
LBP 100483.898578
LKR 372.915393
LRD 190.753911
LSL 18.395899
LTL 3.275692
LVL 0.671049
LYD 7.193033
MAD 10.946336
MDL 20.163699
MGA 5077.366304
MKD 61.550467
MMK 2329.402127
MNT 3997.576444
MOP 9.066953
MRU 45.265181
MUR 52.32903
MVR 17.080834
MWK 1945.723588
MXN 20.651399
MYR 4.518033
MZN 70.880462
NAD 18.395899
NGN 1493.837622
NIO 41.29167
NOK 10.603658
NPR 168.725404
NZD 1.994826
OMR 0.426558
PAB 1.122173
PEN 3.824181
PGK 5.039356
PHP 70.265494
PKR 308.094307
PLN 4.410924
PYG 6926.957684
QAR 4.090559
RON 5.345628
RSD 117.60914
RUB 92.160393
RWF 1660.146741
SAR 4.170261
SBD 8.975661
SCR 15.494376
SDG 667.286472
SEK 11.058862
SGD 1.424974
SHP 0.831272
SLE 25.38689
SLL 23263.013098
SOS 641.272565
SRD 41.763467
STD 22961.792237
STN 24.506595
SVC 9.818775
SYP 14424.074276
SZL 18.400952
THB 37.463662
TJS 10.312672
TMT 3.882807
TND 3.344411
TOP 2.671105
TRY 55.752455
TTD 7.610151
TWD 36.473095
TZS 2952.468979
UAH 51.035934
UGX 4578.520965
USD 1.109374
UYU 45.405083
UZS 13436.797483
VES 998.98033
VND 28460.423204
VUV 132.922017
WST 3.09189
XAF 655.957
XAG 0.02165
XAU 0.000279164582
XCD 2.998137
XCG 2.022381
XDR 0.784385
XOF 655.957
XPF 119.331742
YER 262.330436
ZAR 18.422197
ZMK 9985.701079
ZMW 22.862461
ZWL 357.217824
SSP 6373.791908
MXV 2.320385
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Trump pauses Mexico tariffs as last-ditch Canada talks continue
Trump pauses Mexico tariffs as last-ditch Canada talks continue / Photo: Jim WATSON - AFP

Trump pauses Mexico tariffs as last-ditch Canada talks continue

US President Donald Trump paused tariffs on Mexico for one month after last-minute talks Monday -- but there was no breakthrough yet in negotiations with Canada on an issue that has sparked fears of a global trade war.

Text size:

As world markets slumped, Trump and his Mexican counterpart Claudia Sheinbaum both announced the halt in the levies after she agreed to send 10,000 troops to the US-Mexico border following talks on Monday.

Trump said on his Truth Social network that after the "very friendly conversation" he had "agreed to immediately pause the anticipated tariffs for a one month period."

During that time there would be further talks "as we attempt to achieve a 'deal' between our two Countries," the Republican said.

Leftist Sheinbaum had announced the tariff pause a few minutes earlier, saying she had a "good conversation with President Trump with great respect for our relationship and sovereignty."

Trump agreed to increase measures to prevent trafficking of US weapons into Mexico, she said -- a point that did not appear in Trump's statement.

The development came hours before the 25 percent levies that Trump has ordered on imports from the US neighbors and chief trading partners -- plus an extra 10 percent on China -- were due to take effect at midnight on Tuesday.

Trump said he had also spoken to Canadian Prime Minister Justin Trudeau on Monday and was due to speak again at 3:00 pm (2000 GMT) -- but the White House said negotiations with Ottawa were not going as well.

Trump repeated his frequent claims that the United States is being unfairly treated by trade while pushing his argument that the tariffs were about a "drug war" from opioids "pouring through the Borders of Mexico and Canada."

US government figures show that only a minimal quantity of drugs comes via Canada.

- Markets slump -

Spiralling fears of a global trade war had earlier sent US, European and Asian markets into a fall.

Wall Street stocks opened sharply lower, a European push lower was driven by Frankfurt and Paris with falls of around two percent, and Asian equity markets mostly slid by the close.

The Mexican peso and Canadian dollar also sank against the greenback, while oil jumped despite Trump limiting the levy on Canada's energy imports at 10 percent to avoid a spike in fuel prices.

The White House said earlier there had been a "heck of a lot of talks" over the weekend -- and that they had gone better with Mexico than Canada.

"This is not a trade war, this is a drug war," National Economic Council Director Kevin Hassett told CNBC.

"The Mexicans are very, very serious about doing what President Trump said" in his order imposing the tariffs, he said. "But the Canadians appeared to have misunderstood the plain language."

Canada has vowed to respond strongly to the tariffs.

Its most populous province Ontario on Monday banned US firms from bidding on tens of billions of dollars in government contracts -- and dumped a deal with Musk's Starlink.

Musk is running a cost-cutting drive in Trump's White House that, in a separate development, could shut down the US Agency for International Development.

"Ontario won't do business with people hellbent on destroying our economy," Ontario Premier Doug Ford said on X.

Trump has upped the pressure recently by calling Canada's existence into question -- calling again as recently as Sunday for it to become the 51st US state.

- 'A little pain' -

The US president -- who has said that tariff is the "most beautiful word in the dictionary" -- is going even further in his second term on the levies than he did in his first.

He has insisted that the impact would be borne by foreign exporters without being passed on to American consumers, despite most experts saying the contrary.

But the billionaire 78-year-old did acknowledge Sunday that Americans might feel economic "pain".

"We may have short term a little pain, and people understand that," Trump told reporters as he returned to Washington on Sunday from a weekend at his Florida resort.

"But long term, the United States has been ripped off by virtually every country in the world."

Trump has also wielded tariffs as a threat to achieve his wider policy goals, most recently when he said he would slap them on Colombia when it turned back US military planes carrying deported migrants.

(T.Burkhard--BBZ)