The Trump administration announced a one-month exemption on auto tariffs for Mexico and Canada after speaking to Canadian Prime Minister Justin Trudeau and pleas from the “Big 3” U.S. automakers — Ford, General Motors and Stellantis. Twenty-five percent tariffs on all other goods remain in effect. Canada and China have imposed retaliatory tariffs on U.S. products, while Mexico said it would announce their own countermeasures on Sunday. President Claudia Sheinbaum said Mexico could seek new trading partners in light of Trump’s trade war.

President Claudia Sheinbaum: “If needed, we’ll look for other commercial partners, anything to protect Mexico and Mexicans within the framework of sovereignty and dignity.”