Global tensions around trade remain high on Wednesday, with investors and business leaders looking for signs that politicians may walk back some of their recent actions.
The latest:
President Donald gave a one-month tariff exemption for automakers after he spoke with heads of General Motors, Ford Motor and Stellantis
Trump said in a post on Truth Social that he spoke to Canadian Prime Minister Justin Trudeau and told him that Canada’s efforts to stop the flow of fentanyl were “not good enough.” Trump also said the “call ended in a ‘somewhat’ friendly manner.”
Commerce Secretary Howard Lutnick said on Fox News that there could be a one-month delay on tariffs for sectors that are abiding by the United States-Mexico-Canada Agreement, which was signed during Trump’s first term. This would seem to include the Big Three automakers of Ford, General Motors and Stellantis.
Lutnick told Bloomberg Television earlier in the day that Trump will make an announcement Wednesday regarding tariffs on Mexico and Canada. Lutnick indicated that there could be a change that was “somewhere in the middle.”
China has filed a revised request for consultations at the World Trade Organization over the additional 10% tariffs Trump has imposed, according to the international body.
The Chinese Embassy in the U.S. said in a post on social media site X that “If war is what the U.S. wants, be it a tariff war, a trade war or any other type of war, we’re ready to fight till the end.” China Foreign Ministry spokesperson Lin Jian made similar remarks.