The News
US President Donald Trump granted auto imports a one-month exemption from tariffs on Canada and Mexico. The move buoyed stock markets after they dipped sharply earlier this week when the duties took effect.
Trump issued the brief reprieve after talking with America’s top three automakers, the White House said, but a phone call with Canadian Prime Minister Justin Trudeau did not yield greater relief for Ottawa, which Trump said wasn’t doing enough to stop fentanyl trafficking.
The tariff back-and-forth “has created volatility on Wall Street, confusion for consumers and massive amounts of uncertainty for businesses,” which are reevaluating supply chains and production plans, CNN wrote. “It’s unclear how long investors will have to celebrate until the next ride on the tariff merry-go-round begins.”
