US President Donald Trump said he would temporarily spare car manufacturers with a new 25% import tax imposed in Canada and Mexico.
Trump also accused Canada not to do enough to prevent drugs from entering the United States, after a telephone call with Prime Minister Justin Trudeau of the disruption caused by new trade rates.
“Nothing convinced me that it stopped,” wrote Trump on social networks after the call.
The word relief has contributed to stimulating the American shares, after two days of declines which destroyed the gains that the S&P 500 had seen since the US elections in November.
The price exemption concerns cars made in North America.
Canada and Mexico responded with their own levies to import reprisals on American products after the 25% Washington prices on its two neighbors.
The goods of a value of the billions cross the borders of the United States, Canada and Mexico and their savings are deeply integrated every day.
The White House said that it would grant a month’s exemption from the prices of the automotive industry after the Pleidoyers of Ford, General Motors and Stellantis, which have supply chains that extend on the continent.
Trump says he wants to protect American industry and stimulate manufacturing, while launching his actions against the two American neighbors intended to stop the flow of migrants and drugs through the border.
Writing on social networks, Trump told that he had told Trudeau that the situation did not improve.
“He said it was improving, but I said,” It’s not good enough, “he said.
Trudeau called Trump’s claims on drugs a “completely false” justification for prices. The United States seized less than 50 pounds of fentanyl at its northern border last year.
Economists have warned that these prices should lead to a price increase for consumers in the United States, as well as potentially painful economic slowdowns in Mexico and Canada.
In interviews earlier Wednesday, trade secretary Howard Lunick said that the prices would continue, but that some goods could be “left out”.
“There will be rates – let’s be clear – but what he thinks is what sections of the market that he may plan to lift them until we arrived, of course, on April 2,” Larombeng told Bloomberg on Wednesday.
“It will be 25% but there will be certain categories left aside-it may well be cars. It could be others too,” he added.
A day earlier on Fox News, Lutnick had raised the possibility of a compromise and a reduction in prices for Mexico and Canada, saying that Trump was weigning offers to meet his allies “in the middle”.
The White House said that Trump has always intended to go ahead of April 2 with reciprocal prices on other countries around the world which he considers to treat the United States unfairly.
