Trump eases Mexico, Canada tariffs again as markets slide
The president suspended some of the 25% tariffs he imposed on Mexican and Canadian imports


What happened
President Donald Trump Thursday suspended some of the 25% tariffs he imposed on Mexican and Canadian imports two days earlier. The one-month pause applies to imports that comply with the U.S.-Mexico-Canada trade pact he signed in his first term. Trump gave automakers a similar monthlong reprieve on Wednesday.
Who said what
Trump's "on-again, off-again tariff threats have roiled financial markets, lowered consumer confidence and enveloped many businesses in an uncertain atmosphere that could delay hiring and investment," The Associated Press said. Yesterday's pause did not calm the jittery markets — the S&P 500 dropped another 1.8%, leaving it "below where it was before Trump was elected."
The suspension "effectively abandons many of the tariffs" Trump just imposed on America's top two trading partners, The New York Times said, but it wasn't clear exactly how many. Mexican President Claudia Sheinbaum said "practically all of the trade" between the U.S. and Mexico was now duty-free again, while the White House said about half of Mexican imports and 38% of Canadian imports were compliant with the trade deal. Canadian Prime Minister Justin Trudeau said his country would "continue to be in a trade war that was launched by the United States for the foreseeable future." U.S. Treasury Secretary Scott Bessent called Trudeau a "numbskull."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What next?
Canada said it would keep its 25% retaliatory tariffs in place regardless of Trump's pause, but not implement a second wave of taxes on U.S. imports. Ontario Premier Doug Ford said he would maintain his province's 25% surcharge on electricity exported to the U.S. until Trump "removes the threat of tariffs for good," and, along with other provinces, keep U.S. alcohol off Canadian shelves.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Rafi Schwartz has worked as a politics writer at The Week since 2022, where he covers elections, Congress and the White House. He was previously a contributing writer with Mic focusing largely on politics, a senior writer with Splinter News, a staff writer for Fusion's news lab, and the managing editor of Heeb Magazine, a Jewish life and culture publication. Rafi's work has appeared in Rolling Stone, GOOD and The Forward, among others.
-
5 late night cartoons about the Jimmy Kimmel brouhaha
Cartoons Artists take on a mouse at the FCC, Kimmel's return, and more
-
September 27 editorial cartoons
Cartoons Saturday's political cartoons include Donald Trump and the rapture that wasn't
-
Sarah Ferguson: a reputation in tatters
In the Spotlight After emails surfaced revealing ties to Jeffrey Epstein, weeks after she claimed to cut contact, her charities are running for the hills
-
Why Trump is so focused on getting a Nobel Peace Prize
The Explainer A recent poll found that three-quarters of Americans say Trump doesn’t deserve the award
-
Trump declares new tariffs on drugs, trucks, furniture
Speed Read He's putting tariffs of 25% on semi trucks, 30% on upholstered furniture, 50% on kitchen and bathroom cabinetry and 100% on certain drugs
-
Amazon reaches ‘historic’ $2.5B Prime settlement
speed read The company allegedly tricked customers into signing up for Prime membership that was then difficult to cancel
-
Trump DOJ indicts Comey, longtime Trump target
Speed Read The president is using the Justice Department to prosecute his political enemies
-
Trump’s plan for a government shutdown: mass firings
IN THE SPOTLIGHT As lawmakers scramble to avoid a shutdown, the White House is making plans for widespread layoffs that could lead to a permanent federal downsizing
-
Gunman kills 1 detainee, wounds 2 at ICE facility
Speed Read A sniper shot three detainees at an Immigration and Customs Enforcement field office before fatally shooting himself
-
Trump DOJ reportedly rushing to indict Comey
Speed Read Former FBI Director James Comey oversaw the initial 2016 investigation into ties between the Trump campaign and Russia
-
‘ExxonMobil made the right call’
Instant Opinion Opinion, comment and editorials of the day