OPINION: This article contain commentary which do not reflects the author’s opinion.
BREAKING: Donald Trump scrambles to backtrack from his disastrous tariffs as the economy craters by announcing a delay on tariffs for Mexican imports covered under his previous North American trade agreement.
But it gets even more humiliating…
“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement,” Trump wrote on Truth Social.
“This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum,” he continued, conveniently failing to mention that the stock market is in free fall.
“Our relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl,” he added. “Thank you to President Sheinbaum for your hard work and cooperation!”
The goods excluded from the pointless and destructive 25% tariff are those that fall under the umbrella of the U.S.-Mexico-Canada Agreement, meaning products made entirely in North America or meaningfully transformed on the continent. For products like automobiles, 75% of the parts must come from North America.
While Trump caving to this extent is a win for the American people, it doesn’t go far enough. These tariffs need to be lifted entirely so that working class people aren’t left footing the bill for Trump’s ignorance.
According to Bloomberg, Trump might soon be backtracking even more. Apparently, he’s also considering exempting certain Canadian and Mexican agricultural products from the tariffs — a tacit admission that his policy is failing in rapid and dramatic fashion.
Agriculture Secretary Brooke Rollins told Bloomberg that “everything is on the table” and she is “hopeful” that the administration will soon grant relief to the agricultural industry.
“As far as specific exemptions and carveouts for the agriculture industry, perhaps for potash and fertilizer, et cetera — to be determined,” Rollins said. “We trust the president’s leadership on this. I know he is hyper focused on these communities.”
At this point, absolutely nobody should trust this president’s leadership. He’s clueless, erratic, and thrashing about with no clear goals and a fundamental misunderstanding of basic economic forces. The sooner he stops gambling with all of our livelihoods, the better.
