Trump considers possible tariff relief for some sectors of Canada and Mexico
Washington seems to want to calm the waters this Wednesday after the entry into force of tariffs decided by Donald Trump Against Canadian and Mexican products, while Mexico says it will seek to leave its dependence on the US market.
The United States Secretary of Commerce, Howard Lutnick, said there may be an announcement on Wednesday about tariffs a Canada and Mexicothat could be lightened by categories, one day after Customs taxes of 25%came into force.
The tariffs determined by Republican President Donald Trump, 25% for imported goods from Mexico and Canada, began governing on Tuesday, and hit world markets hard.
Canadian energy products have a lower rate, 10%.
Ottawa He already announced his reprisal measures, while those of Mexico They are expected for Sunday.
Trump intends to press with these measures so that Canada and Mexico fight drug trafficking and irregular migration at their borders, although it also frequently mentions commercial imbalances when referring to this issue.
The president is listening “Offers“Of her neighbors, Lutnick told Bloomberg Television on Wednesday, and anticipated an announcement in the afternoon.
Lutnick He ruled out the possibility of lifting tariffs completely, but pointed out that Trump considers some segments where they could relieve themselves.
“Our expectation is that there will be categories”He stressed.
“There will be 25%”customs rights but some categories could be exempt, for example cars”Lutnick said.
Mexico looks elsewhere
The Mexican president, Claudia Sheinbaum, said on Wednesday that her country will turn to other commercial partners if the United States continues with its tariff policy.
At a press conference, the president said that if these taxes remain, her government will have to “make important decisions for the future of the country ”, including “If necessary, other commercial partners”
The president said that her government has not closed to dialogue with the United States, its largest commercial partner and destination of more than 80% of its exports.
“We have done our task and we do not even close the doors to dialogue, much less because they always have to be open”, Said Sheinbaum, who will hold on Thursday a phone call with Trump.
Sheinbaum He reiterated that his government will not rush to announce the measures he will take in response to tariffs.
“Let’s wait for what happens from here to Sunday”, Said the president, who had said that her government enlists measures”Tariff and non -tariff”In retaliation, but that would announce them in an event on Sunday in the Zocalo of Mexico City, the largest public square in the country.
Analysts interpreted the decision as a strategy to achieve a last minute agreement with Trump.
The US president should speak on Wednesday with Canadian Prime Minister Justin Trudeau, who described as “stupid“The decision to impose tariffs.
Trudeau went much further and considered that Trump seeks to undermine “The Canadian economy“To then”talk about annexation”From the country.
Economic blow
Trump reproaches Mexico and Canada, their partners in the Commercial Agreement of North America (T-MEC), who do not fight enough against fentanyl traffic on the border and the passage of irregular migrants, and seeks to press them with tariffs to increase their efforts.
For the president, customs rights are also a commercial weapon to incite companies to settle or reinstall in the United States and avoid tariffs. He states that he protects American firms from their foreign competitors.
He also understands that it is a way to increase tax collection at a time when he intends to deepen the tax cuts of his first management (2017-2021).
The indicators begin to show signals of deceleration of the US economy, and these customs rights multiply uncertainty.
This Wednesday, the creation of jobs in the private sector showed a strong drop in February and the services sector weakens, both for tariffs and for public spending cuts.
Wall Street is still on a negative streak for the third consecutive day on Wednesday, with strong falls in its main indexes.
In the case of China, Lutnick confirmed that the customs rights planned to activate on April 2 are still standing.
Source: Gestion
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