The Globe and Mail reports in its Monday edition that April 2, labelled "Liberation Day" by U.S. President Donald Trump, marks the beginning of the decline of his significant tariffs that posed threats to the global economy.
The Globe's John Turley-Ewart writes that Mr. Trump's tariff strategy quickly unravelled, providing Canada's next prime minister an opportunity to stand firm during renegotiations of the United States-Mexico-Canada trade agreement.
The shift became evident not through executive orders, but through a late-night notice on April 11 by U.S. Customs and Border Protection that exempted most electronics from steep tariffs, including computers and semiconductor devices. This followed a 90-day reprieve from tariffs for over 70 countries that Mr. Trump announced just days earlier, prompted by a sell-off in U.S. government debt which raised consumer interest rates. He may blink again and make more concessions on autos and auto parts imported into the U.S. as automakers threaten to shut down plants. Mr. Trump is now talking about a trade deal with the European Union. Despite the constant chaos caused by the political chum Mr. Trump shovels to the media, reality still matters, even for this President.
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