Lutnick: Tariffs on nearly all products from Mexico and Canada will likely get delayed

Justin Trudeauprime Minister

That aligns with some of the conversations that we have been having with administration officials, but I'm going to wait for an official agreement to talk about Canadian response and look at the details of it,

Trudeau said

So if you think about it this way, if you lived under Donald Trump's US-Mexico-Canada agreement, you will get a reprieve from these tariffs now. If you chose to go outside of that, you did so at your own risk, and today is when that reckoning comes,

he said

The movement of these products has been stopped with the hope that one day, one day soon... there will be an agreement to lift the tariffs on these goods,

Vazquez told Reuters

It's extremely concerning... I think our city, as well as the country, should look towards more market diversification,

he said

We’re going to be taking in trillions of dollars, and as much as child care is talked about as being expensive, it’s — relatively speaking — not very expensive, compared to the kind of numbers we’ll be taking in.”

In response to a question about how he’d tackle child care costs so more women could join the workforce, Trump brought up his plan to hike taxes on imports and said

We’re trying to balance the budget immediately, and because of the tariff income, which is really go- — it’s — it’s already turned out to be amazing, actually,

Trump said

If you don’t make your product in America, however, under the Trump administration, you will pay a tariff and in some cases a rather large one.”

In comments directed at manufacturers, the president added

I’ve decided for purposes of fairness that I will charge a reciprocal tariff,

Trump said last month as he signed a proclamation laying out his plan for reciprocal tariffs

Whatever they tariff us, other countries, we will tariff them. That’s reciprocal back and forth,

Trump said

ILLEGAL BORDER CROSSINGS LAST MONTH WERE THE LOWEST EVER RECORDED. THANK YOU!!!”

On Sunday, Trump posted on his social media network

Plants are opening up all over the place,

Trump said

The uncertainty around what’s going to happen with tariffs is making [businesses] a lot more cautious,

Larry Adam, chief investment officer of the private client group at Raymond James, told MM

Lindsey Grahamsenate Budget Chair

We need to capture this in the legislative process to make it real,

said Graham (R-S.C.).

Reducing IRS staff will have profound effects, hindering the agency’s ability to process the more than 140 million individual tax returns it expects to receive for tax year 2024, potentially causing delays for taxpayers waiting for refunds, and inhibiting the agency’s ability to conduct audits to catch wealthy tax cheats who avoid paying their fair share and to pursue stricter enforcement of rules governing businesses,

they wrote in a letter to Hill that was shared with MM

Tariffs are not just about protecting American jobs, they’re about protecting the soul of our country,

he said

What has never happened is tariffs being used, as Trump did (this week), as a hammer to get other countries to halt the flow of illegal immigrants or fentanyl,

Alan Wolff, senior fellow at the Peterson Institute for International Economics and former deputy director-general of the World Trade Organization, told CNN

Tariffs are a valid, and often useful, industrial policy tool that can provide narrow and targeted protection for key sectors,

they noted

There’s a reason these policy tools exist,

Claudia Sahm, chief economist at New Century Advisors, said in an interview

A trade war produces no winners,

Porter told CNN

So, say a country is just mass producing and dumping large quantities of goods into another country,

she said