Donald Trump made it clear on Thursday: the tariff delay tactics are over.
August 1 will officially be the day countries see U.S. enforcement of the White House's sky-high "reciprocal" tariff rates begin. Sort of.
In a last-minute announcement, Trump announced another 90-day pause. Except, it's not a pause this time, but an extension-- and it's just for Mexico.
Tariff rates will stay steady for another three months as negotiators attempt to hammer out a deal which the president said would also address border crossings and fentanyl trafficking.
The U.S.'s neighbor to the north received the opposite treatment. Ahead of his midnight deadline, Trump said Thursday he was hiking Canada's reciprocal rate even higher.
But holding the line means real, tangible effects for American consumers.
With rates as high as 30% to 50% between the U.S. and some trading partners, the president could have just supercharged an issue that contributed to the Democrats' defeat in 2024: inflation.
New polling out this week shows the president already underwater on the issue of his tariff agenda, before the bulk of tariff-related price hikes are even being felt by consumers.
Read more here.
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