Prime Minister Justin Trudeau spoke with the president of the United States, Donald Trump, early Monday morning about the next commercial war that has the potential to inflict economic pain to workers and companies on both sides of the border, and They are expected to speak again today.
The Office of the Prime Minister and the White House did not immediately reveal a reading of what was said in the call, but a Trudeau spokesman told CBC News that “they talked about trade and the border” and confirmed that they will connect again This afternoon before the tariffs are ready to enter into force on Tuesday.
Trump also spoke with Mexican president Claudia Sheinbaum on Monday.
Sheinbaum said in a social media post that he had a “good conversation” with the president after he agreed to deploy 10,000 troops from the Mexican National Guard on the border of the United States.
She said “tariffs stop for a month from now on”, as a result of that commitment. It was not clear immediately if she referred to Trump’s tariffs on Mexico or her retaliation tariffs threatened by US assets.
In a publication on social networks after his call with wrapped Trudeau, Trump punished Canada for not allowing US banks to “open or do business there.”
New approach: Banking
Up to this point, Trump has framed tariffs as a way to return the blow to Canada for the ongoing commercial deficit and supposed inaction in drugs and migrants that cross the northern border to the United States; His declared concerns about bank justice are a new development.
Several US banks do business in Canada with large loan and commercial banking operations, among other functions, on this side of the 49th parallel.
Personal banking in Canada is largely the domain of Canada’s headquarters, due to strict federal regulations designed to protect against bank failures. According to government figures, large banks of Canada have more than 93 percent of all national bank assets.
The federal government announced a 25 percent tariffs on US goods, ranging from juice to appliances and cars, after President Donald Trump followed his tariff threats. The commercial war has people to buy Canadian while the reach of economic consequences expects to be seen.
Last night, Trump also raised the Canadian banking system with journalists after landing in DC after a weekend at his Florida farm.
“Canada has been very abusive from the United States for many years. They do not allow our banks. Did you know that? Canada does not allow banks to enter. If you think about it, that is quite surprising,” he said.
In his Monday’s publication on social networks, Trump said the commercial confrontation is “also a war against drugs, and hundreds of thousands of people have died in the United States for drugs that occur through the borders of Mexico and Canada”.
The US government data that show relatively few amounts of fentanilo, the drug that Trump has said that he is more worried, have been seized on the northern border in recent years.
Customs figures and border protection of the United States (CBP) show that the agency seized 19.5 kilograms of fentanyl on the northern border last year, compared to 9,570 kilograms in the southwest.
Despite the apparent confrontation about these problems, Trump said he will speak with Trudeau at 3 pm
Trudeau will meet with the Council of Relations of Canada-United States later today to discuss the pending commercial war and rates that take effect on Tuesday.
Trump launched the first save in this commercial dispute when he announced on Saturday that he would slapped a 25 percent tariff on virtually Canadian goods with a lower rate, 10 percent, for the country’s energy products.
Trump said he was fulfilling a campaign promise to seek remuneration of countries that, according to those who are “scamming” to the United States.
Trump is obsessed with the United Canada-United States commercial deficit, which is largely driven by the American most cheaper Canadian oil demand. When oil exports are excluded, Americans actually have a commercial surplus with Canada, according to data from the Canadian government.
