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US President Donald Trump has deferred the decision to impose 25% tariffs on Canada and Mexico once again for 30 days. Trump announced a tariff on both countries on 4 March. Canada and Mexico praised it after Tramp’s decision to postpone tariffs.
Canadian Finance Minister Dominic Labtle said that his country will also postpone the tariff to be imposed on American goods. Trump had earlier imposed a tariff on Canada-Mexico in February. But he then postponed it for a month.
Trump on Thursday signed executive orders involved in avoiding tariffs on Canada and Mexico.
US stock market declines 3.6 % After Trump’s tariff, Canada also imposed tariffs on US $ 20.5 billion goods. Earlier, Mexico had threatened that if the US did not change its decision, they would also impose tariffs on American goods from Sunday. Mexico President Claudia Shinbam thanked Trump for the decision.
After this, the US market started declining. The US stock market S&P declined by 1.8% on Thursday. It fell 3.6 % in two days. This is the worst situation in two years.
Car companies appealed to postpone the decision Meanwhile, the car -making companies appealed to Trump to postpone the decision of the tariff on Thursday. He had said that the tariff on the car would cause him a lot of damage.
However, Trump has said that any relief is for a short time. The purpose of postponing the decision is to help car manufacturers and suppliers of car parts. He said that he is going to impose tariffs on Canadian and Mexican products from 2 April.
Trump said that his decision would protect American car manufacturers and farmers. He said that he has nothing to do with the market to avoid his decision to put tariffs.
Trump said-
I am not even looking at the market. America will be very strong with my decision. These foreign companies are robbing us. Till now no president has done anything about it.
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Also read this news related to Trump’s tariff case …
Trump deferred tariff on Mexico for 30 days: Said- Neighboring country will send 10,000 soldiers to the border to stop the supply of drugs
US President Donald Trump has postponed the tariff on Mexico on 3 February for a month. Trump imposed 25% tariff on Mexico with Canada. Read full news here …
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