On Thursday, markets retreated towards their session lows after President Trump declared that the implementation of tariffs on goods and services from Mexico subject to the US-Mexico-Canada trade agreement (USMCA) would be postponed until April 2.
However, he made no similar announcement regarding Canada.
“After discussions with President Claudia Sheinbaum of Mexico, it has been agreed that tariffs will not be imposed on anything under the USMCA Agreement for Mexico until April 2,” Trump shared on Truth Social.
“This decision was made as a gesture of goodwill and respect for President Sheinbaum,” he added.
As of 12:24:59 PM EST. Market Open.
^GSPC
^IXIC
^DJI
The lack of mention regarding Canada seems to have unsettled the markets. The Dow Jones Industrial Average (^DJI) declined by over 1%, while the S&P 500 (^GSPC) fell by 1.8%. The tech-heavy Nasdaq Composite (^IXIC) dropped by more than 2%.
Earlier on Thursday, Trump stated, “Believe it or not, despite the poor job he’s done for Canada, I believe Justin Trudeau is leveraging the tariff issue, which he has largely instigated, as a means to run for Prime Minister again. It’s amusing to watch!”
