Tuesday Briefing
https://www.nytimes.com/2025/02/04/briefing/tariffs-trump-iran-nuclear.html
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Trump pauses tariffs on Mexico and Canada
President Trump and the leaders of Mexico and Canada struck last-minute deals yesterday to postpone by 30 days the imposition of punishing tariffs on goods exported to the U.S. A 10 percent tariff on Chinese goods took effect just after midnight in the U.S.
The frenzy of last-minute maneuvering demonstrated Trump’s willingness to use tariffs as a source of leverage against the most important U.S. trading partners, in what he called an effort to curb drug smuggling and illegal immigration. Imports from Mexico, Canada and China account for more than a third of the products brought into the U.S. each year.
China: China was still preparing its response to the tariffs yesterday. Trump’s aggressive “America First” foreign policy holds both promise and peril for Beijing, as it seeks to strengthen ties with alienated U.S. allies.
Europe: Tariffs “will definitely happen with the E.U.,” Trump told the BBC on Sunday, and they are coming “pretty soon.” He doubled down on the threat yesterday, complaining about deficits in auto and farm products.