Tariffs on cars from Mexico and Canada delayed by one month
CNN
President Donald Trump has granted an exemption on auto tariffs on Mexico and Canada for one month, White House Press Secretary Karoline Leavitt confirmed Wednesday.
President Donald Trump has granted an exemption on auto tariffs on Mexico and Canada for one month, White House Press Secretary Karoline Leavitt confirmed Wednesday. “We spoke with the Big Three auto dealers. We are going to give a one-month exemption on any autos coming through USMCA,” Trump said in a statement Leavitt read in a White House briefing. Those dealers included Stellantis, Ford and General Motors. “He told them they should get on it, start investing, start moving, shift production here to the United States of America, where they will pay no tariff. That’s the ultimate goal,” she added. “Reciprocal tariffs will still go into effect on April 2. But at the request of the companies associated with USMCA, the president is giving them an exemption for one month so they’re not at an economic disadvantage.” Trump’s decision to grant the extension comes ahead of his plan for reciprocal tariffs across the globe, which are set to be announced on April 2. Those tariffs will not allow for any exemptions, Leavitt told reporters. The administration’s swift about-face on auto tariffs adds to the trade chaos that has unfolded since Trump took office. Businesses anxious for certainty on the path ahead are still in limbo about finalizing new production plans.
Target is facing a 40-day consumer boycott starting Wednesday over the company’s shift away from diversity, equity and inclusion (DEI) policies.
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Lawmakers and aviation organizations grappled with whether the US has maintained its title as “the gold standard” when it comes the safety of the nation’s air traffic control system in a House hearing Tuesday.
US Commerce Secretary Howard Lutnick said that President Donald Trump could announce a trade deal with Mexico and Canada as soon as tomorrow, just one day after the US imposed punishing tariffs on the two nations and sparked retaliatory levies.
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Two of America’s largest retailers, Target and Best Buy, warned Tuesday that prices will increase following President Donald Trump’s tariffs on imported goods from Mexico, Canada and China. Target’s CEO said the price increases could happen a lot sooner than you think.
YouTube is cracking down on content related to gambling as sports betting and other online prediction markets have taken off in the United States.
The crypto industry is getting everything it wanted under President Trump. The regulators that crypto firms have blamed for all of their problems have been gutted or made over with friendlier faces who are eager to drop lingering legal challenges. The White House is even hosting an industry roundtable this week. That’s the kind of attention the industry couldn’t have dreamed of under the Biden administration.
US stock futures slid Tuesday after President Donald Trump made good on his threat to levy hefty tariffs on Canada and Mexico. Dow futures dropped by around 150 points in premarket trading, and futures tied to the S&P 500 and Nasdaq 100 were both around 0.7% lower.
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American consumers and businesses stand to pay a hefty price for the tariffs President Donald Trump enacted on the nation’s top three trading partners.
President Donald Trump’s blanket tariffs on Mexico and Canada took effect on Tuesday, an extraordinary action aimed at bringing America’s top trading partners to heel. But it threatens to weaken the North American economy, including that of the United States, at a time of significant stress.
Chipmaking giant Taiwan Semiconductor Manufacturing Company plans to invest at least $100 billion to grow its US manufacturing operations, President Donald Trump announced from the White House on Monday alongside the firm’s CEO C.C. Wei, Commerce Secretary Howard Lutnick and White House AI and Crypto Czar David Sacks.