Trump tariff war: Mexico, Canada plan stronger trade collaboration – check details – OXBIG NEWS NETWORK-OxBig News Network

Mexican President Claudia Sheinbaum on Wednesday said that she and Canadian Prime Minister Mark Carney have agreed to strengthen trade collaboration in response to the US President Donald Trump‘s proposed tariffs, set to take effect on August 1.Speaking at a daily morning press briefing, Sheinbaum said, “We both agreed that the (US-Canada-Mexico) trade agreement needed to be respected, and we shared our experiences about the letter than we received from President Trump.”Sheinbaum revealed that both leaders discussed their respective strategies for negotiating with the Trump administration before the deadline. She added that Carney is expected to visit Mexico soon, although no date has been confirmed, according to Reuters.Sheinbaum also held meetings with top Mexican business leaders, including billionaire Carlos Slim and executives from firms such as Bimbo and steel companies, to discuss how to respond to Trump’s proposed trade measures. “One of the things I asked them was, ‘Why don’t we lay out, in black and white, the investments that they have planned in the United States?’ so they can take part in these negotiations,” she added.This comes after Trump announced a 30% tariff on imports from Mexico and the European Union, citing failed trade talks and the need to cut the US trade deficit. The proposed rate for Mexico is 30%, slightly below the 35% planned for Canada.Trump has issued a series of letters recently, threatening to impose tariffs on various US trade partners, including Canada, Japan, Brazil, and others. The move, part of a renewed aggressive trade stance, also includes a 50% duty on copper imports.Despite international criticism, Trump appears firm on his position, backed by a strong US economy and soaring stock market. Both Mexico and the EU have denounced the proposed tariffs as unjust and disruptive but remain open to dialogue in hopes of reaching an agreement before the August 1 deadline.The Mexican President had earlier said that, “We’re also clear on what we can work with the United States government on, and we’re clear on what we can’t. And there’s something that’s never negotiable: the sovereignty of our country.”European Commission President Ursula von der Leyen warned that the 30% tariffs would disrupt key transatlantic supply chains, harming businesses, consumers, and patients on both sides.“The European Union will allow complete, open Market Access to the United States, with no Tariff being charged to us, in an attempt to reduce the large Trade Deficit,” Ursula added.So far, Trump has only secured basic trade agreements with a few countries like the UK, Indonesia, and Vietnam, while talks with other major partners are still underway.