The Trump administration has backtracked on its plan to impose 25% tariffs on Mexico and Canada, granting a one-month reprieve for goods compliant with a 2020 free trade deal. This follows a tumultuous week of market volatility and strained relations with U.S. trading partners.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Trump administration has backtracked on its plan to impose 25% tariffs on Mexico and Canada,
00:07granting a one-month reprieve for good complaints with a 2020 free trade deal.
00:12This follows a tumultuous week of market volatility and strained relations with
00:17U.S. trading partners. Trump signed an executive order on Thursday extending
00:20tariff relief until April 2, with the possibility of further extensions if Canada and Mexico
00:26make progress on addressing fentanyl trafficking. The decision comes after the S&P 500 lost all
00:31post-election gains, and a record trade deficit was reported for January.
00:35For all things money, visit Benzinga.com slash GSTV.