00:00 Speaker A
Well, Henrietta, given what you point out that the US and the UK do have a friendlier relationship, is that potentially a signal that we could have a deal sooner than currently seems possible with a partner like Canada, a partner like Mexico that we have had friendlier relations with in the past?
00:19 Henrietta Treyz
You know, I’ve actually been taking, and distinct from this UK US deal, I’ve been taking a different approach to Canada and Mexico than my priors. Um, I had been really optimistic that Canada and Mexico would be some of the first tariffs to come off. They are our closest trading partners, they are our actual neighbors. We’ve got the issues of fentanyl and immigration largely resolved, um, regular communication with both leaders of both nations. Those tariffs are incredibly pernicious and creating massive log jams at customs and border across all of Canada and all of Mexico, which is, you know, effectively equal to the transatlantic trade and trans-Pacific trade. So I’ve been really optimistic that we would get the Canada, Mexico tariffs off in one to three months. We’re already almost one and a half, two months in on these original USMCA 10% fentanyl tariffs. Uh, and we are nowhere on negotiating an exclusion from the 25% USMCA tariffs. And of course, the president negotiated that trade deal during his first term, and as we saw from his meeting with Carney earlier this week, has no intentions of taking that off. So while there is a deal with our close partner in the UK, I’m not seeing the same and I’m having to push out my forecast for clients into, instead of one to three months, maybe a three to six month breakthrough with those two nations.
03:07 Speaker A
Yeah.