Trump Is Said to Push for Early Reopening of North American Trade Deal
The president wants to begin renegotiating a U.S. trade deal with Canada and Mexico earlier than a scheduled 2026 review, people familiar with his thinking said.
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The president wants to begin renegotiating a U.S. trade deal with Canada and Mexico earlier than a scheduled 2026 review, people familiar with his thinking said.
The president said the planned duties were a response to China’s failure to curb fentanyl exports.
North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.
While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.
President Trump wants an External Revenue Service to collect tariffs on imports. One trade expert said the move may be “more branding than substance.”
Automakers and even some Republicans may fight to preserve funds, and environmental activists will likely sue, but some experts said that some changes may not survive legal challenges.
The president’s executive action on trade will keep all possibilities on the table, including eventual tariffs against China, Canada and Mexico.
Tariffs and tax cuts amid high interest rates and lingering inflation will pose a test for the U.S. economy.
But economic, political and technological changes have left Canada with few ways to handle trade restrictions now.
A new poll found the public is sympathetic to the president-elect’s plans to deport migrants and reduce America’s presence overseas.