Trump Tariff Talks LIVE Updates: Trump to Hold Tariff Talks with Canada and Mexico Amid Rising Trade Tensions

Donald Trump’s decision to impose tariffs on the US’s top three trading partners has sparked widespread opposition, yet there are limited ways to reverse his plan if he remains determined. Despite strong criticism from Wall Street and lawmakers, challenges in both political and legal arenas face significant hurdles, as tariff authority has largely shifted to the executive branch over the years.

The key question remains whether market instability, evident in Monday’s trading, could push Trump to reconsider his decision. 

Economists at Capitol Economics warned that if these tariffs persist, the market volatility seen so far might be just the beginning.

Although Trump often gauges success through market performance, he has made it clear that, for now, he is willing to overlook these fluctuations.

President Donald Trump and Mexican President Claudia Sheinbaum have agreed to push back the new tariffs on Mexico for one month. Both leaders confirmed the delay after a positive conversation. Trump shared the news on Truth Social, calling the discussion "very friendly."

Trump also stated that U.S. officials, including Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and Commerce Secretary nominee Howard Lutnick, will take charge of future talks about issues like drug trafficking and migration, which influenced the tariff decision.

However, the 25% tariffs on Canada and 10% tariffs on China are still uncertain.

Trump also mentioned having spoken with Canadian Prime Minister Justin Trudeau, with another conversation set for 3 p.m. ET. Trump expressed more frustration with Canada, particularly regarding its banking restrictions on U.S. businesses.

Dmitry Medvedev, Russia's Deputy Chairman of the Security Council, has voiced support for Elon Musk and former President Donald Trump’s actions aimed at reducing the power of the U.S. Agency for International Development (USAID). Medvedev described Musk’s push to curtail the agency’s operations as a “smart” move.

In a post shared on X, Medvedev highlighted Musk’s attempts to expose what he referred to as USAID’s covert activities, using the term "Deep Throat" to describe his efforts. He humorously remarked that he hoped the so-called “Deep State” wouldn't target Musk for his actions.

Medvedev, a longstanding ally of Russian President Vladimir Putin, has also previously shown approval of Musk’s peace suggestions for Ukraine, which included territorial concessions to Russia. Additionally, Medvedev suggested that Trump’s return to the White House could lead to a reduction in U.S. foreign aid, especially to Ukraine.

President Trump announced that he spoke with Canadian Prime Minister Justin Trudeau, with plans for another call later at 3 PM EST (2000 GMT). In his post on Truth Social, Trump highlighted ongoing trade tensions, mentioning that U.S. banks face restrictions on operating in Canada.

He also emphasized the seriousness of the ongoing "drug war," pointing out the devastating impact of drugs crossing through both the Mexican and Canadian borders, resulting in hundreds of thousands of U.S. deaths.

Trump's tariffs on Canada are expected to come into effect tomorrow, escalating the ongoing trade and border disputes between the two nations.

The White House has clarified the responses of Mexico and Canada to President Trump's recent tariff order. According to Kevin Hasset, Director of the National Economic Council, Mexico has shown a serious commitment to complying with the order, while Canada has misunderstood the situation.

Hasset explained that Mexico is fully focused on addressing the key issues in the tariff order, particularly regarding the control of drug trafficking and migration. On the other hand, he suggested that Canada has not fully grasped the urgency behind the executive action, indicating a difference in how each country is interpreting the directives.

Ontario's Premier Doug Ford announced a ban on US-based businesses from receiving provincial contracts, effective immediately, in response to ongoing US tariffs. The ban will remain in place until the US removes these trade restrictions.

Ford emphasized that Ontario spends around 30 billion CAD ($20.5 billion) annually on procurement and has a 200 billion CAD ($136.3 billion) plan to develop the province. He stated that US companies will now miss out on substantial opportunities, blaming President Trump for the situation.

The ban also targets Elon Musk’s satellite internet company, Starlink, with Ford saying Ontario is canceling its contract with the firm. Ford expressed frustration with US policies, claiming Canada didn’t start the trade dispute but is fully prepared to stand firm in the face of these challenges.