US Extends Mexico Tariffs, Targets Others With Hikes

President Trump granted Mexico a 90-day extension on new tariffs, maintaining existing rates on fentanyl-related imports, cars, and metals after talks with Mexican President Claudia Sheinbaum. This move came despite earlier statements that no extensions would be allowed. Meanwhile, new tariffs from 15% to 50% are scheduled to take effect for other major trading partners, including Canada, India, Brazil, and several smaller countries, unless last-minute agreements are reached. The White House is pushing for a global minimum tariff of at least 15% as part of a tougher international trade strategy. Trump has linked trade negotiations to geopolitical issues, criticizing Canada’s stance on Palestinian statehood and threatening India with harsher measures over its ties to Russia. These actions have heightened uncertainty in global markets, with U.S. industries monitoring potential impacts.