Fri Feb 07 2025

(The Center Square) – Major markets pared some losses after President Donald Trump paused his plans for 25% tariffs on goods from Mexico and Canada while starting talks with China on a 10% additional tariff over fentanyl smuggling. Trump on Saturday ended decades of duty-free trade between the U.S., Mexico and Canada with a 25% tariff on imported goods from the two countries with a lower 10% tariff on Canadian energy resources. Trump said he'd keep the tariffs in place until the illegal fentanyl trade subsided. He also added a 10% tariff on imports from China over that country's role in producing the chemicals needed to make fentanyl, a powerful opioid blamed for the majority of U.S. overdose deaths.