Trump pauses Mexico tariffs for one month and says newly created sovereign wealth fund could buy TikTok: Live
Donald Trump has agreed to suspend his aggressive tariff hike against Mexico by one month after speaking to his counterpart Claudia Sheinbaum, who in return has agreed to dispatch 10,000 additional troops to the border between their two countries in order to police illegal drug trafficking.
Writing on Truth Social, the president said he had had a “very friendly” conversation with Sheinbaum and that the soldiers “will be specifically designated to stop the flow of fentanyl, and illegal migrants into our Country”.
Trump said he will also be having further talks on Monday with Canadian Prime Minister Justin Trudeau, after Canada, like Mexico, announced retaliatory tariffs against the U.S. in response to the new administration’s trade aggression.
U.S. stock markets were down on Monday morning as traders reacted to the prospect of a developing trade war.
On Monday afternoon, Trump also signed various executive orders – one that begins establishing a sovereign wealth fund for the U.S. government. The fund would serve as an investment vehicle for the federal government.
The president insinuated a deal on TikTok could be made through the fund.
