All posts tagged "mexico"

'Freaked out' Trump backed off tariff plan after seeing markets tank: MSNBC analyst

President Donald Trump is less concerned about how the American people are faring from his back-and-forth on tariffs than he is on how the stock market is reacting, according to an MSNBC political analyst.

During a Thursday broadcast that aired shortly after Trump reversed course on Mexico tariffs, anchor Chris Jansing asked, "Is there any consideration at all for the people whose lives, livelihoods, jobs, depend on all of this?"

"That seems to be less a consideration than what the markets are doing," answered analyst Elise Jordan, who worked in the George W. Bush White House. "And you had heard so many of Donald Trump's associates and business leaders say that when the markets start to go down, Donald Trump is going to get freaked out and he's going to reverse course. And we're seeing that happen a bit."

Trump announced on social media Thursday morning that he was pausing tariffs on Mexico for one month "as an accommodation, and out of respect for, President Sheinbaum."

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According to The New York Times, "Uncertainty stemming from the Trump administration’s mixed messages on tariffs on the country’s biggest trading partners is weighing on Wall Street," with stock indices continuing to plummet even after Trump's announcement on Mexico.

Jordan claimed Trump's chaotic method of imposing then rescinding tariffs "is just a disgusting exercise in power at the end of the day, to keep everyone around the world on the edge of their seats and living in this uncertainty."

She continued, "It's about more than just, you know, the stock market dropping. It's about people who are living paycheck to paycheck and wondering if they're going to still have a job to pay their rent, and if they're going to have food for their children. And, so, when someone like Donald Trump has ultimate power, we have seen he likes to have this cat and mouse, bait and switch."

Watch the video below or at this link.

'No, it's not a fact': GOP's Donalds cut off by CNN host after rant about Trump tariffs

During a contentious CNN interview with Rep. Byron Donalds (R-FL) on a variety of issues, including his run for Florida's governor, news broke that President Donald Trump would be reversing course again, and suspending "most new tariffs on Mexico."

"I want to ask you about this breaking news just coming in to CNN that Trump just announced that Mexico will not be required to pay tariffs on any products that fall under the USMCA agreement," anchor Pamela Brown began. "He did this, quote, 'Out of respect for the Mexican president.' Was Trump's back-and-forth tariff decision the right call, especially given the volatility of markets?"

Donalds answered, "Well, look, I'm going to repeat myself a little bit here. It is important that we stabilize not just our economic relationships around the globe, but also the fact that we got to secure our border and we got to stop the flow of fentanyl. Give Donald Trump the opportunity to actually negotiate with the Mexican president and with Canada and with China. You got to give him that opportunity, because when prices were rising in the United States, I didn't hear CNN talking about that much. As a matter of fact, you ignored most of it while it was hurting the American people."

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"Well, we did," Brown countered.

Donalds continued, "So, let the president negotiate on tariff policy. That is what he's doing, and it's going to work out to the better."

"We did cover, we did cover that," Brown repeated.

"You didn't cover it the way it needed to be covered. Let's just be perfectly honest," Donalds shot back.

"OK, well, that's a matter of opinion."

Donalds carried on, "You let the last administration get away with it but the American people suffered as a result."

"That is your opinion, but we did," Brown maintained.

"Oh, no, that's not my opinion. That's a fact."

"OK, no it's not a fact," Brown concluded before moving on.

Watch the clip below via CNN or click the link.

'Taking it in the shorts': CNN anchor spars with lawmaker over 'minimizing' tariff effects

CNN anchor Brianna Keilar took issue Wednesday with Rep. Nicole Malliotakis (R-NY) for touting tax cuts and "minimizing" the financial effects tariffs will have on average Americans.

"Would voters appreciate a tax cut more if they weren't taking it in the shorts on tariffs?" Keilar asked.

Malliotakis began, "Look, I think people want to save money and keep more money in their pocket regardless of how it happens. I think that's the Republican principle, is to let people keep more of their hard-earned tax dollars. And we want to try to bring down prices. If we don't want to see the tariffs that are going to impact the price of goods, but as I said, when they did it in China, it didn't necessarily affect those prices —"

Keilar interrupted, "With all due respect, you're hearing the projections — no one's expecting that this is not going to affect the bottom line. You already heard Trump last night asking farmers to bear with him. I mean, it's just very clear what we're hearing from economists. It's broadly expected this is going to increase prices."

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Malliotakis reiterated that tariffs on China did not raise prices, and that she looked forward to working with Trump on reducing taxes for working families and senior citizens.

"But I do just have to be clear, congresswoman, because what you're talking about, the tariffs this go around, I mean, it's so much bigger than what happened before. So, you can't compare, apples to a watermelon, right?

Keilar added, "You are trying to minimize the effect of the tariffs."

"I'm not minimizing the effect of the tariffs," Malliotakis countered.

"You're raising the idea that it won't actually impact people," Keilar maintained.

'I'm raising the idea that they may actually not go into effect," Malliotakis said. "That perhaps President Trump is focused on a policy objective that he will achieve that will prevent — if these tariffs go into effect, they're going to be for a very short period of time to get a desired outcome. That's what I'm trying to say.

Keilar concluded, "He had to hand out $27 billion in taxpayer funds to farmers with his last tariffs. So, it's not without cost — I just want to be clear."

Watch the clip below via CNN.

'Incompetent clown': Critics slam Trump for latest tariff backtrack

After speaking by phone with the heads of GM, Ford, and Stellantis Wednesday, President Donald Trump decided to give automakers a 30-day reprieve from his imposed 25 percent blanket tariffs on Canada and Mexico.

White House press secretary Karoline Leavitt announced Wednesday, "We are going to give a one-month exemption on any autos coming through USMCA... so they are not at a disadvantage."

According to Reuters, "The move will benefit U.S. automakers and other foreign automakers that are in compliance."

But many social media users questioned the effect these on-again, off-again tariffs will have on U.S. businesses.

Washington Post opinion writer Catherine Rampell wrote on BlueSky, "I'm sure the auto industry welcomes this temporary reprieve -- but again, how can businesses possibly make investment/hiring decisions in this environment?"

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Economist Joshua Failé posted, "Business can’t make investment or hiring decision in the chaotic environment, but the members of regime either don’t care about the implications or don’t understand them. And some, I believe, want these impacts for their own gain, particularly the technofascist billionaire oligarchs backing this.

Attorney George Conway did not mince words about Trump on X, posting, "What an incredibly incompetent clown. Maybe he should have thought about the (patently obvious) effect of tariffs on the auto industry *before* imposing them? He’s like a monkey on a keyboard."

"lol - Trump pauses some auto Tariffs. What a way to incite fear in our markets…" posted wealth manager Peter Mullin, while writer Stephen Best posted, "So, mad President @realDonaldTrump is giving a 30 day pause on tariffs on cars from Canada. Canada should not pause and maintain its 25% counter tariff on cars coming from US. Technically in trade negotiations this is called ‘F---- you.’

Leavitt added during Wednesday's announcement, "Reciprocal tariffs will still go into effect on April 2." Trump claimed the tariffs are meant to stem the flow of fentanyl and undocumented migrants over the borders and into the U.S, even though only a tiny fraction of fentanyl crosses into the U.S. from Canada.

'Vaporizing': Columnist argues America's greatness is disappearing under Trump

President Donald Trump's actions of the past six weeks have positioned him to forfeit "what could have been the next great American century," argued columnist Catherine Rampell in a new Washington Post opinion piece.

Rampell proffered that three simple steps were all Trump needed to position America "to lose the 21st century," despite his obsession with what he perceives as all that "winning."

The first step in the "losing" strategy, according to Rampell is: "Alienate your friends."

This was on full display last Friday when Trump and Vice President J.D. Vance appeared to ambush Ukrainian President Volodymyr Zelensky, a once-faithful friend of the United States, by demanding he be more "grateful" for American help with the effort to keep dictator Vladimir Putin from overtaking his country.

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Then, there's border allies Canada and Mexico, that were slapped with 25% tariffs on Tuesday for doing business with the United States. Trump has also destroyed much of the goodwill cultivated overseas through foreign aid programs like USAID, and even some of his allies at home have turned against him for gutting entire government agencies and firing tens of thousands of federal workers.

"All that soft power the United States accumulated over the past century is vaporizing," Rampell wrote. "This means no friends to support us against our adversaries, whether rogue nations or terrorist groups. Ticking off our allies also means ticking off some of our best customers, who will turn to economic competitors. In some cases, these customers are outright boycotting U.S. products."

Step two is "Destroy your business environment."

"Businesses are finding it impossible to write contracts because prices and rules fluctuate with the trade whims of the president. Manufacturers report that tariff uncertainty has already caused spot commodity prices to rise about 20 percent. It is no wonder, then, that business investment and new orders have stalled or outright declined," she wrote.

And the final step that Trump is currently working on is: "Slaughter your golden goose (i.e., science and research)."

Trump has spent the past six weeks "gutting our scientific and research infrastructure," Rampell wrote. This includes upending The National Institutes of Health, the National Science Foundation, the National Weather Service National Weather Service, National Oceanic and Atmospheric Administration, and the list goes on.

Rampell quotes Petra Moser, an economic historian, as saying, “If these types of policies continue, the U.S. will lose its role as a leader in science. Science overall will lose — the U.S. more so than the rest of the world, because people will stop coming here and go elsewhere.”

As Trump addresses the joint session of Congress Tuesday night, he will have the opportunity to explain his first weeks of actions directly to the American people.

Read The Washington Post opinion piece here.

'This is no bueno': CNN pollster flummoxed over Trump's plans to 'lean in' on tariffs

CNN polling analyst Harry Enten was taken aback when anchor Brianna Keilar said President Donald Trump planned to put the spotlight on his much-maligned tariffs during Tuesday night's address before Congress.

By way of introduction, Keilar said a new CNN poll showed that 52% of Americans now disapprove of Trump's performance in office, while 48% approve.

"A senior adviser says the president plans to lean in to tariffs during tonight's address," Keilar added.

"Yea, I don't know why Trump would be wanting to do that tonight. Let's take a look here at the economic approval rating for Donald Trump — and it's terrible! It's awful!" Enten exclaimed.

"Look, the bottom line is this: he is at this particular point when you are looking at his overall on the averages...that is the second worst — the only person he beats is actually himself! Is actually himself, who is at minus eight," Enten said referring to Trump in 2017.

Enten said that the "average president" going into their first address before Congress is at +27 points.

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"And the question is, okay, can Trump actually solve this problem, this hole that he is in compared to the average president, by looking at where he would be on tariffs. And what do we see on tariffs? Americans oppose tariffs on Canada. Look at this! Sixty-four percent — that's nearly two-thirds of the nation who oppose it!"

Enten went on that 59 percent of Americans oppose Trump's tariffs on Mexico. His overall economic approval rating on average, Enten said, is minus four points.

"He is the lowest of any president going into his first address before Congress on history! So, the tariffs will only sink him further, in my opinion."

Enten then shifted to "the real question" of whether Trump is "prioritizing the economy." And, while 82 percent of Americans say he should prioritize the economy, only 36 percent said he actually is.

"You don't have to be a mathematical genius to know that 36 is far less than 82," Enten quipped. "This is a massive problem, because if he was put in charge to fix the economy, just 36 percent say he's he's prioritizing it, his net approval rating on the economy is already at minus four, and his overall approval rating is going down. His net approval negative in our CNN poll, right around zero. Overall, this is this is no bueno. This is not good. And, so, we'll see if tonight he's able to turn it around at all. But consider me a little doubtful."

Watch the clip below via CNN.

'It ain't happening': CNN's Bash scoffs as key Trump campaign promise goes up in smoke

President Donald Trump's mandate from American voters to lower the cost of living — starting with eggs, for instance — has taken a far back seat to his desire to wield the power of tariffs on friends and foes alike.

On Tuesday, 25 percent tariffs went into effect on all Mexican and Canadian goods coming into the United States, a move that drew a sharp rebuke from Prime Minister Justin Trudeau. And as CNN's Dana Bash pointed out on Tuesday's Inside Politics, American consumers will be some of the major victims of these policies.

"$1,200 a year, for example, is one estimate that is going to be the increase in prices for the average consumer. This is what Donald Trump ran on, on making the crisis of affordability better. So far, it ain't happening," Bash said.

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"Without question," added Jeff Zeleny. "And even if this was, you know, this is not happening in a vacuum. I mean, even if it was just this, it would be significant for prices. But it's not. I mean, high prices on goods are already one of the central challenges of the administration. That was yesterday, never mind today. Not just eggs and other things, but there is a sense of of consumer confidence has been shaky. And this is only adding to that fact. The president talks a lot, and I expect we'll hear him tonight talking again, about all the battleground states he won. He talks about Wisconsin. He talks about Michigan. He talks about Pennsylvania. In all of those states and more, they are going to feel this most acutely."

Shortly after the tariffs went into effect against Canada, the stock markets reacted wildly, immediately dropping nearly 700 points.

"What you're seeing now is mostly in response to this trade war," reported Business & politics correspondent Vanessa Yurkevich."This trade war has erased all gains in the markets since President Trump was elected. And what you are seeing is investors very nervous about what this trade war means for prices, how consumers will react, and then ultimately, what kind of a business outlook are we seeing because of this trade war?"

Yurkevich said that companies like Target, Best Buy, and Walmart have already announced they will be raising prices.

"And for the average consumer, just taking a step back here outside of Wall Street, on Main Street, we know that consumer confidence has fallen. we know that inflation is heating up and tariffs are certainly adding another element of uncertainty for the average American," she said.

Watch the video below or at this link.

Trump's tariff push tears rift between him and top White House aides: report

President Donald Trump’s decision to impose harsh trade tariffs on China, Canada and Mexico didn't have complete White House buy-in, according to a new report in The Wall Street Journal.

Stephen Miller, Trump's White House deputy chief of staff for policy, and Treasury Secretary Scott Bessent both reportedly voiced opposition to the punitive tariffs, arguing that they were counterproductive to the administration's goals.

The Journal cited anonymous sources to report on Miller's concern "that excessively antagonizing Mexico could jeopardize the country’s ongoing cooperation to interdict migrants attempting to reach the U.S. border," while Bessent "had pushed to have the tariffs start at a lower level and increase over time."

"Trump’s aides privately considered various off-ramps from the president’s pledge for universal tariffs," the Journal reported, "such as tariffing only certain sectors, allowing a grace period before duties were imposed, or exempting major sectors such as cars. But Trump went with the maximalist approach to his tariffs anyway — at least at the outset."

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In addition, "Trump aides tried to play down the aggressiveness of his trade actions, with National Economic Council director Kevin Hassett saying on CNBC that this is a 'drug war,' not a 'trade war' and that the media and Canadian government were interpreting the tariff orders incorrectly."

Hassett echoed Trump's own assertion that an inflow of fentanyl was to blame for the tariffs.

"Canada doesn’t even allow U.S. Banks to open or do business there. What’s that all about? Many such things, but it’s also a DRUG WAR, and hundreds of thousands of people have died in the U.S. from drugs pouring through the Borders of Mexico and Canada," Trump posted to social media Monday.

Trump announced Saturday that he was imposing 25% tariffs on Mexico and Canada, but temporarily rescinded the order for 30 days after phone conversations with both countries' leaders Monday. A 10% tariff on China went into effect at midnight on Monday, prompting retaliatory tariffs against the U.S.

Read The Wall Street Journal article here.

'Not a huge fan': Top Republican stands up to Trump on key policy

GOP Rep. Adrian Smith (R-NE), the top Republican on the Ways and Means trade subcommittee, is not an advocate of President Donald Trump's punitive use of tariffs, according to new reporting by Politico.

Smith told reporter Ari Hawkins at a Tuesday morning breakfast that he's “'not a huge fan of tariffs,' like the ones Trump threatened to levy on Canada and Mexico and slapped on China over the weekend. But he said that 'we need to come to terms' with the fact that Trump is bent on using them to achieve his economic and security aims."

Trump imposed 25% tariffs on Mexico and Canada over the weekend over what he called a "drug war" with "hundreds of thousands of people" dying in the U.S. "from drugs pouring through the Borders of Mexico and Canada."

Trump temporarily rescinded the order for one month after phone conversations with both countries' leaders Monday. A 10% tariff on China went into effect at midnight on Monday, prompting retaliatory tariffs to go into effect against the U.S.

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Hawkins wrote, "Smith said he is wary about such retaliation, particularly when it’s targeted at American farmers. 'That’s a concern, certainly it is,' he said. 'Hearing from producers, they really prefer to produce for a market, and not just looking for payments, so whatever is done I hope is very temporary … and temporary in its overall application,' Smith added."

“I don't want to become dependent on tariff revenue, because that speaks to the fact that it's just another tax," Smith said.

Hawkins wrote, "Smith, however, praised Trump’s role in negotiating the revised version of the North American Free Trade Agreement, known as the U.S.-Mexico-Canada Trade Agreement, which Trump signed into law during his first administration. He added that the former Biden administration failed to go far enough to engage the U.S. with markets abroad."

Read the Politico article here.

'Bourbon from Mitch McConnell's KY': Tapper calls out GOP leaders over retaliatory tariffs

Within an hour of a deal struck between Canada and the U.S., CNN's Jake Tapper made an example out of two GOP leaders whose states would've been affected by Canada's retaliatory 25% tariffs.

Canadian Prime Minister Justin Trudeau had announced the move against the U.S. after President Donald Trump planned to levy 25% trade tariffs on Canada over the weekend. The two leaders spoke on the phone Monday morning and were scheduled for a follow-up call in the afternoon. In that call, Trudeau said the two allies had come to an agreement similar to one reached with Mexico, with both delaying tariffs for a month.

Tapper said that Trump's decision to punish Canada for allegedly allowing fentanyl to come into the United States "will cost the median American household about $600 extra per year."

Tapper then pointed out, "Canada is announcing its own retaliatory tariffs on U.S.-made products with a focus on high dollar exports from Republican states such as orange juice from Marco Rubio's Florida and bourbon from Mitch McConnell's Kentucky."

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Earlier Monday, Republican Sen. Chuck Grassley (R-IA) pleaded with Trump to consider how the tariffs will affect farmers in his state of Iowa.

Grassley posted on social media, "Biden inflation increase the input cost to farming by 20% incl particularly high prices on fertilizer. So I plead w President Trump to exempt potash from the tariff because family farmers get most of our potash from Canada."

In a phone call with Mexico's president Claudia Sheinbaum Monday, Trump agreed to temporarily halt the 25% tariff on Mexican imports since she agreed to send 10,000 National Guardsmen to stop drug traffickers from bringing fentanyl across the border.

Tapper continued, "While Trump's tariffs are designed to increase revenue for the U.S. government, and, in theory, offset his proposed but yet not yet passed tax cuts, Mr. Trump did concede on Monday that Americans will, quote, 'feel some pain.'"

Although the weekend's tariff announcements floored economists and worried consumers, Forbes reported that tariffs have been Trump's strategy all along as a money-making opportunity.

"This was confirmed by Trump’s January 20 inaugural address, in which he touted tariffs as the alternative to 'taxing our citizens to enrich other countries.' Trump followed this up by declaring that he would establish the External Revenue Service to collect tariffs, duties, and revenues.'"

Watch the clip below via CNN.