U.S. President Donald Trump is delaying 25% tariffs on cars from Mexico and Canada and might consider carve-outs for agricultural imports from those countries, signaling again that he is both flexible and unpredictable in his use of duties as a policy tool.
Markets globally cheered the mood of compromise in Washington, while the moves were watched closely in Japan, where the cost of tariffs is being assessed, and countermeasures discussed and devised.
Prior to Wednesday’s announcement, Trump had a meeting with the heads of General Motors, Ford Motor and Stellantis. They asked him directly for the tariffs on automobiles to be reconsidered.
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