Canada and Mexico have struck a deal with the U.S. to delay tariffs in return for ramped up border control.
But U.S. President Trump's global trade war is still brewing, threatening levies on both China and the European Union.
But U.S. President Trump's global trade war is still brewing, threatening levies on both China and the European Union.
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00:00A deal to delay tariffs is struck just hours before U.S. President Donald Trump's sweeping
00:05duties were set to hit two of the U.S.'s biggest trading partners.
00:11After speaking with a U.S. counterpart, Mexican President Claudia Sheinbaum announced the
00:16tariffs will be delayed for at least 30 days.
00:30An additional 10 percent tariff still went into force on Chinese imports into America.
00:49Trump also citing illegal drug imports for that levy.
00:53And just hours later, a similar agreement with Canada.
00:57Prime Minister Justin Trudeau took to social media to say his country would implement
01:01a $1.3 billion plan to reinforce the border, and appoint a new czar to combat the import
01:07of fentanyl.
01:09This, after Trump claimed Canada and Mexico failed to prevent the movement of migrants
01:14and illegal drugs into the U.S.
01:17It puts a temporary end to a brewing trade war in North America, where Mexico and Canada
01:22had threatened retaliation for Trump's proposed 25 percent tariffs on all goods from both
01:27countries.
01:28Negotiations are set to take place over the next month to try and find a solution that
01:33does not include tariffs.
01:35But Trump's global trade war is not over.
01:47An additional 10 percent tariff is still set to go into force on Chinese imports into
01:51America.
01:52Trump also citing illegal drug imports for that levy.
01:56Trump is set to speak with Chinese President Xi Jinping in the next 24 hours, saying if
02:01a deal cannot be struck, those tariffs will be substantial.
02:05He has also not backed away from his trade threats against the European Union.
02:10After EU leaders met in Brussels, European Commission President Ursula von der Leyen
02:15said they are open for dialogue with the U.S., but won't be pushed around.
02:20When targeted unfairly or arbitrarily, the European Union will respond firmly.
02:29Economists warn Trump's proposed tariffs may backfire, possibly leading to higher inflation
02:36and higher costs in the U.S., something Trump promised U.S. voters he would reduce.
02:41But as Wall Street ended Monday's trading down, rattled international markets partially
02:59recovered from their losses after Trump backed down from some of his tariff threats.
03:04But with more trade sanctions on the horizon, investors will be watching what Trump does
03:08next.
03:09Yixin Pan and Rosie Greninger for Taiwan Plus.