Important stuff in this ‘straight talk’ interview. Buckets of ‘breaking’ stuff to unpack.
First, per Trade Adviser Peter Navarro, the Steel and Aluminum tariffs will be announced tomorrow. Second, Mexico and Canada will be given an exemption from those tariffs while NAFTA is being renegotiated. WATCH:
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The exemption will give U.S. Trade Representative Robert Lighthizer increased leverage in his efforts to close the NAFTA loophole. Closing the NAFTA “fatal flaw” is the essential “Option 1” that we have discussed previously several times. It would be against the interests of Canada and Mexico to ever agree to close the loophole. However, the steel and aluminum tariffs add a bit of financial incentive not previously in the equation.
It is still highly doubtful the amount of money in the steel and aluminum tariff aspect is close to enough to get Canada and Mexico to agree to close the backdoor loophole. However, any amount is more than was there before…. so the possibility of “option 1” increases a smidge.




