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US President Donald Trump has interrupted scanning prices on Mexico and Canada a few hours before they become in force, withdrawing North America from the edge of a harmful trade war.
Agreements to delay the prices on the two largest US trade partners of one month were announced on Monday following separate bilateral calls between Trump and Mexican president Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.
Trump’s reversal followed an advertisement on the weekend of huge samples from Canada, Mexico and China, allies and annoying investors.
The additional 10% rate on China, beyond existing samples, must always take effect. The American president is expected to speak to the Chinese leader Xi Jinping in the coming days, the White House announced on Monday.
Sheinbaum and Trudeau both agreed to place 10,000 soldiers at their borders with the United States and fight drug trafficking, which won them a 30-day stay that would have disrupted hundreds of billions of dollars per year and Potentially inflamed a tit-for-tray tinder.
As part of the border measurement package, Trudeau promised to provide $ 200 million (138.56 million dollars) of funding linked to “organized crime and fentanyl” and the appointment of a “fentanyl tsar” .
Canada will also list cartels as terrorist organizations and will launch a “joint strike force from Canada to combat organized crime, fentanyl and money laundering”.
“The prices announced on Saturday will be interrupted for a 30-day period to see if a final economic agreement with Canada can be structured,” said Trump late on his social platform for truth, earlier, said that said that He would last a month of “negotiations” with Mexico.
The Canadian dollar, the Mexican peso and American actions had taken a sure blow early Monday after Trump on weekends said he would follow threats to hit Canada and Mexico with 25%prices with a few races . The prices had to have a deep impact on businesses and the broader economy in the three countries.
Actions in Asia-Pacific increased at the start of negotiation on Tuesday. Wall Street stocks have brutal their losses, however, while Trump has covered his position on imminent prices. The Canadian dollar and the Peso also recovered on Monday evening.
“This is a huge relief, obtaining an agreement,” said Flavio Volpe, president of the Association of Manufacturers of Automobiles of Canada, an industry that was to support a hard stroke.
Despite the poor approach to the situation ”.
Trump insists that prices on Mexico and Canada are necessary for the two countries to do more to prevent migrants and drugs from crossing the United States.
American companies have pushed the pricing plans, warning that they would increase the prices of Americans and overturn supply chains.
Sheinbaum said that her call with Trump, that she described as a “good conversation”, lasted about 45 minutes and that she had explained the concerns of Mexico concerning the smuggling of sophisticated weapons of the United States which were used by the country’s criminal groups. She added that the American president had agreed to help stop arms trafficking.
The Mexican chief said Trump also mentioned the trade deficit between the two countries.
“I told him that, in reality, it was not a deficit, that we had a commercial agreement, that we were business partners and that it was the result of being business partners; And that in any case it was the best way to continue to compete with China and other regions of the world, “said Sheinbaum.
Trudeau also said that he had a “good call” with Trump, adding that “Canada is implementing our $ 1.3 billion border plan – strengthening the border with new helicopters, technology and staff, strengthening of Coordination with our American partners, and increased resources to stop the fentanyl flow. »»
