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Just a reminder that Mexico is much more impacted (b/c auto exports are a much larger share of Mexican GDP) by the 232 auto tariffs than Canada is.
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1.8. klo 10.17
Today’s big #tariff headline takeaways for #USMCA partners: #Mexico gets a 90 day pause on new tariffs; #Canada gets 35%. A clear result of the constant engagement by Mexican authorities and the many positive calls between #Trump and #Sheinbaum.
There is a lot of Kabuki theater going on here. So long as USMCA compliant trade is exempt from the headline IEEPA tariffs (technically over fentanyl for M/ CA), the sectoral 232s end up mattering much more -- and Mexico got hit there (and Canada on metals)
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