Ana Swanson

Yeah, the White House said in a call today that they weren't in a hurry to negotiate with other countries and negotiate. that though some countries had dropped their tariff rates in the last 24 hours, they should have done that decades ago. But in the executive order laying out these tariffs that Trump signed today, it does say that if countries either reduce those trade barriers or the U.S.

Yeah, the White House said in a call today that they weren't in a hurry to negotiate with other countries and negotiate. that though some countries had dropped their tariff rates in the last 24 hours, they should have done that decades ago. But in the executive order laying out these tariffs that Trump signed today, it does say that if countries either reduce those trade barriers or the U.S.

trade deficit with them drops, then those tariffs could come down.

trade deficit with them drops, then those tariffs could come down.

So the president said today in the Rose Garden that these numbers were calculated based on tariffs and tariffs. other trade practices that these countries use against the United States. But actually, when you look at the number, it seems like it's a simple calculation that's based on the size of the trade deficit that the United States runs with each of these countries.

So the president said today in the Rose Garden that these numbers were calculated based on tariffs and tariffs. other trade practices that these countries use against the United States. But actually, when you look at the number, it seems like it's a simple calculation that's based on the size of the trade deficit that the United States runs with each of these countries.

So essentially, countries that have bigger trade deficits get hit with bigger tariff numbers. Right. But it's also notable who was left out of the tariffs today. The tariffs don't apply to Canada and Mexico.

So essentially, countries that have bigger trade deficits get hit with bigger tariff numbers. Right. But it's also notable who was left out of the tariffs today. The tariffs don't apply to Canada and Mexico.

So we don't know why yet, really, but it was a big surprise. And I mean, I think the reason has to be that Canada and Mexico are such major trading partners for the United States. They've already been hit by fairly big tariffs by Trump in the last month that had put pressure on a lot of businesses that are making products in North America.

So we don't know why yet, really, but it was a big surprise. And I mean, I think the reason has to be that Canada and Mexico are such major trading partners for the United States. They've already been hit by fairly big tariffs by Trump in the last month that had put pressure on a lot of businesses that are making products in North America.

And they also have a trade agreement with the United States that says, President Trump himself negotiated in his first administration. And so goods that have been moving under that trade agreement have been exempted so far from the other tariffs that President Trump already hit Canada and Mexico with. Now, that doesn't mean that Canada and Mexico are getting off easy.

And they also have a trade agreement with the United States that says, President Trump himself negotiated in his first administration. And so goods that have been moving under that trade agreement have been exempted so far from the other tariffs that President Trump already hit Canada and Mexico with. Now, that doesn't mean that Canada and Mexico are getting off easy.

President Trump has also announced auto tariffs that will go into effect on Thursday. And those will hit Canada and Mexico quite hard because much of the supply chain for the auto industry is based in those countries and is imported into the United States.

President Trump has also announced auto tariffs that will go into effect on Thursday. And those will hit Canada and Mexico quite hard because much of the supply chain for the auto industry is based in those countries and is imported into the United States.

And the president has tried to kind of wave away those concerns about those tariffs, saying they're going to benefit workers, they're going to bring auto manufacturing and auto jobs back into the United States and benefit unions like the UAW, the auto workers.

And the president has tried to kind of wave away those concerns about those tariffs, saying they're going to benefit workers, they're going to bring auto manufacturing and auto jobs back into the United States and benefit unions like the UAW, the auto workers.

And the UIW has been one of the groups that actually has been very vocally in support of the tariffs, saying that they could reverse this disastrous trade policy and benefit workers. But a lot of other companies and unions and trade groups have expressed a lot more skepticism about how these tariffs are going to pan out.

And the UIW has been one of the groups that actually has been very vocally in support of the tariffs, saying that they could reverse this disastrous trade policy and benefit workers. But a lot of other companies and unions and trade groups have expressed a lot more skepticism about how these tariffs are going to pan out.

Yeah. So the president has a very different theory of how tariffs work than I think most economists do. The president thinks that tariffs bring factories back to the United States, that increases jobs for American workers, it pushes up wages, and that's good for the economy.

Yeah. So the president has a very different theory of how tariffs work than I think most economists do. The president thinks that tariffs bring factories back to the United States, that increases jobs for American workers, it pushes up wages, and that's good for the economy.