Cooler heads have been saying all along that panic over President Trump’s tariffs is premature and wildly exaggerated. Trump loves to use tariffs as bargaining chips, and he loves to make deals. So stay calm.
Mexico caved first. Now, Canada:
President Donald Trump on Monday agreed to pause the implementation of planned U.S. tariffs on imports from Canada for at least 30 days, Canadian Prime Minister Justin Trudeau said.
The pause was announced in a tweet by Trudeau hours after Trump and Mexico’s president said Trump would pause for one month planned tariffs on imports from Mexico.
In both cases, the pauses came after those countries agreed to take steps toward preventing the trafficking of the deadly opioid fentanyl into the United States.
I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly…
— Justin Trudeau (@JustinTrudeau) February 3, 2025
Trump said:
“I am very pleased with this initial outcome, and the Tariffs announced on Saturday will be paused for a 30 day period to see whether or not a final Economic deal with Canada can be structured,” Trump wrote. “FAIRNESS FOR ALL!”
Dealmaking is an art. Someone should write a book about it.
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