Carmakers win reprieve from Trump’s tariffs on Canada and Mexico happymamay

US President Donald Trump said that he will temporarily provide car makers of a new import tax by 25 % imposed on Canada and Mexico, just one day after the intervention of definitions.

The White House’s announcement came even as Trump continued to bombing Canada because not doing enough to prevent drugs from entering the United States.

“Nothing convinced me that he stopped,” Trump wrote on social media. After a phone call with Canadian Prime Minister Justin Trudeau about the economic turmoil caused by the new commercial tariffs.

Relief news helped to enhance the shares that closed the top Two days after the decreases that spent gains, the S&P 500 has witnessed since the presidential elections in November.

Exemption of customs tariffs is dedicated to cars made in North America that is compatible with the current free trade agreement on the continent.

This deal, which was negotiated by Trump during his first term, specifies rules about the amount of the car that must be done in each country to qualify for the treatment that exempt from the fees.

White House journalist Caroline Levitte said that Trump had supported a one -month exemption on the definitions of the auto industry after the appeals of Ford, Granches Motors and Stellantis, which has supplies that extend across North America.

The new customs duties – which are applied tax and the goods in the country – were preparing to disable a third of cars production in North America within a week, according to analysts at the S& P Global Mobility.

The shares in Ford increased by more than 5 % after the announcement, while General Motors shares increased by more than 7 %. Stelantis shares in the United States increased by more than 9 %.

“The president is open to listening to additional exemptions,” added Ms. Levitte. “He always has an open dialogue and he will always do it thinking is suitable for the American people.”

Ford said in a statement that the company will continue to conduct a “healthy and frank dialogue with the administration” and tells its investment for billions in the United States.

The goods worth billions cross the borders of the United States, Canada and Mexico every day and their economies deeply integrated.

The Canadian Chamber of Commerce warned that the ability to afford will be hurt and that trade relations will suffer, despite the targeted relief opportunities.

“We have seen this film before. President Trump puts definitions in place and then comes out of one time exemptions,” said Matthew Holmes, head of the organization’s general policy. “This is not how a long -term commercial alliance is built.”

Doug Ford, Prime Minister of Ontario, told the Canadian media that the re -postponement of two months to automotive companies would not change his plans for revenge, which has already included American wine sales in the province.

Trump’s movements and his threats to impose a “mutual” tariff on countries around the world have sparked fears of a wider trade war.

In addition to Mexico and Canada, hitting goods from China with an additional tariff on Tuesday, raising fees to at least 20 % and pushing the country to take revenge on American exports, including agricultural products.

Canada also responded with its reprisal renovations on American goods after Washington’s tariffs entered 25 % on its neighbors on Tuesday, affecting the elements, including peanut butter, orange and wine.

Mexico also said it would respond, including its own definitions.

“I don’t know where to go with this and how it ends. I just hope it will end quickly,” said Bob Hemswal, Chairman of the Board of Directors of the Lobby Group for Free Trade, which raised concerns about the customs tariff.

Senior retailers in the United States have already warned that measures will lead to high prices of goods such as avocado within days, while economists expect the economic recession in Mexico and Canada resulting from customs tariffs.

Trump acknowledged that his movements could lead to short -term economic pain in the United States, but he said he wanted to protect the American industry and increase manufacturing.

This week’s definitions against the goods of America’s neighbors, as well as China, were given a reaction to the flow of migrants and fentanel across the border.

Rating on social media on Wednesday, Trump said he told Trudeau that the situation was not improving.

“He said it’s better, but I said,” This is not good enough, “Trump said.

Trumpo entitled “Trump’s allegations” about drugs as “justified and fully” for the definitions of his country.

White House officials said Trump is still intending to move forward on April 2 with plans for mutual definitions on other countries around the world that the United States deems unfairly.

“There will be a tariff – let’s be clear – but what is thinking about it is the departments from the market in which he may consider granting them relief until we reach, of course, on April 2.”