Thursday/ it’s almost Aug 1st 🌎

Trump Administration Live Updates: Uncertainty Looms Hours Before Tariff Deadline

President Trump held a news conference at the White House without providing clarity about what will happen to the global trading system in less than eight hours. As of midnight, the stiff tariffs that the president announced on April 2 would go into effect, unless the president signs an executive order to stop them.
– Ana Swanson writing for the New York Times live blog, 2.00 pm EDT

The NYT: ‘Dozens of countries remained in limbo with only hours to go before President Trump’s trade-deal deadline, with tariffs of as much as 50 percent set to snap into effect at 12:01 a.m. Friday’.
[Graphic by Lazaro Gamio & Tony Romm/NYT]
Mexico is getting another 90 days to reach a trade deal, but there is no such extension for Canada (the USA’s second-largest trading partner, the giant orange square) as of now. What will happen if no extension is given to Canada?
The Trump administration will raise the tariff on Canadian exports to the U.S. that are not compliant with the Canada-U.S.-Mexico trade agreement (CUSMA) to 35 per cent – not including tariffs on specific sectors, like automobiles, steel and aluminum.
[From globalnews.ca, graphic by Lazaro Gamio & Tony Romm/NYT]

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