President Donald Trump announced a 90-day pause on higher targeted tariffs for most countries, excluding China, which now faces a 125% duty. The pause was due to over 75 trading partners not retaliating and seeking discussions. Canada and Mexico will maintain a 10% tariff, while the US-Mexico-Canada Agreement (USMCA) will have no tariffs. The European Union plans to impose fresh retaliatory duties next week. Matt Gagnon criticized the inconsistency in the Trump administration's tariff justifications, noting the shift from economic arguments to bilateral trade deals. He emphasized the need for clear objectives and consistent messaging.
