Watch: Why Mexico got a tariff reprieve... and Canada didn't

The Trump administration has announced changes to the tariff rates for Canada and Mexico. While Canada's tariff rate has been increased from 25% to 35%, Mexico has been granted a 90-day reprieve from higher levies. The decision to raise Canada's tariff rate comes as a surprise, as the two countries were previously working towards a new trade agreement. In contrast, Mexico has been given a temporary exemption, allowing more time for negotiations. The article suggests that this move is part of the ongoing trade tensions between the United States and its North American neighbors. The reasons behind the disparate treatment of Canada and Mexico are not entirely clear, but it is likely that the Trump administration is using tariffs as a bargaining chip in its broader trade negotiations. The article provides a concise summary of the key events, without delving into the complex political and economic factors that may have influenced the decision-making process. The focus remains on the factual changes to the tariff rates and the differential treatment of Canada and Mexico.
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