Trump Administration Live Updates: In Reversal, Many New Tariffs on Mexico and Canada Are Suspended
“President Trump reversed new tariffs on Mexico and Canada, suspending them on goods covered by the trilateral trade pact. To avoid a government shutdown, Trump and Speaker Johnson are proposing a stopgap bill funding the government through September 30th. Trump also announced a more targeted approach to federal government job cuts, aiming for a “scalpel” rather than a “hatchet” in the next phase of reductions.
Where Things Stand
Tariff reversal: President Trump signed executive orders suspending new tariffs on many imports from Mexico and Canada, two days after he imposed sweeping levies of 25 percent on two of America’s closest economic partners. The exemptions, on goods covered by the trilateral trade pact Mr. Trump signed in his first term, were a whipsaw reversal that followed days of economic turmoil. Stocks in the United States closed down 1.8 percent on Thursday.
Shutdown looms: In hopes of avoiding a government shutdown at the end of next week, Mr. Trump and Speaker Mike Johnson are pitching a stopgap bill that would keep federal dollars flowing through Sept. 30. The president and speaker are embracing it as a way to avoid a politically damaging shutdown fight among Republicans while still affording Mr. Trump wide latitude to slash spending on his own in defiance of Congress. Read more ›
Job cuts: Mr. Trump said on social media that the next phase of his effort to reshape the federal government would be conducted with a “scalpel” rather than a “hatchet.” The mass firings over the past six weeks have prompted lawsuits and sown confusion, and Mr. Trump said on Thursday that he had met with cabinet secretaries and Elon Musk, who is overseeing much of the overhaul, to discuss the next round of reductions. Agencies have been told to turn in their plans by March 13. Read more ›”
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