Mexico's President, Andrés Manuel López Obrador, announced that the tariffs imposed by former U.S. President Donald Trump on Mexico have been suspended for one month, starting now. This announcement comes amid ongoing trade tensions between the United States and Mexico, which have significantly impacted global markets.

Furthermore, Mexico's President Claudia Sheinbaum announced that Washington has agreed to freeze the tariffs declared by U.S. President Donald Trump at 25% for one month, as the Mexican president had previously announced the deployment of 10,000 soldiers to the border with the United States.

Impacts on Financial Markets:

The imposition of these tariffs has caused a noticeable decline in global stock markets. The Dow Jones Industrial Average fell by 435 points, reflecting investors' concerns over rising trade tensions and their impact on the global economy.

Impacts on the Canadian Dollar:

The Canadian dollar has been significantly affected by these developments, reaching its lowest level in over 20 years. This decline is attributed to increasing fears regarding the impact of the tariffs on the Canadian economy, especially given the close trading relationships between Canada and the United States.

Reactions in Canada:

• Calgary and the Oil Sector: Business communities in Calgary and the oil sector expressed disappointment over these tariffs, noting that they could negatively affect the industry and increase the challenges it faces.

• Ottawa: Both the Mayor of Ottawa and the local trade council urged citizens to support local products as a means to counter the effects of U.S. tariffs. This initiative aims to bolster the local economy and reduce reliance on U.S. imports.

• Manitoba: The province of Manitoba took bold action by removing U.S. alcoholic products from store shelves as a countermeasure against the tariffs. This move is seen as a protest against U.S. trade policies and their impact on local producers.

Future Outlook:

With the tariffs suspended for one month, analysts hope that both sides can reach an agreement that alleviates trade tensions. However, concerns remain about the long-term effects on trade relations between the United States and its neighbors, especially amid volatile trade policies.

This situation continues to evolve, with close monitoring by global markets and economic analysts. The coming weeks are expected to be crucial in determining the course of trade relations in North America and their impact on the global economy.