President Donald Trump announced upcoming auto tariffs while suggesting possible exemptions for certain countries, easing market concerns. At the same time, he imposed 25% secondary tariffs on nations purchasing oil or gas from Venezuela, driving up oil prices. The U.S. plans to negotiate trade concerns, including currency manipulation and labor suppression, while delaying sector-specific tariffs like the 25% auto and timber taxes. The administration is also reviewing value-added tax (VAT) policies, claiming Canada’s GST is discriminatory. Trump further alleged banking restrictions in Canada and hinted at tariffs on aluminum, pharmaceuticals, and automobiles in the near future.

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