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Mexico and Canada reach last-minute deal with Trump to avert trade war

News Snapshot:

The chaotic last-minute maneuvering demonstrated Trump’s willingness to use tariffs as leverage against America’s most important trading partners despite the potential for severe economic consequences. Imports from Mexico, China and Canada account for more than one-third of the products brought into the United States, more than $1 trillion in goods a year. Economists projected that the tariffs and the anticipated retaliatory measures could fan inflation and disrupt global supply chains. Tariffs of 10% are still set to go into effect on China on Tuesday morning. Trump said Monday that he was likely to talk with President Xi Jinping of China…

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