Trump Gives us All Whiplash With Threat of New Tariffs—Now on Mexico
Mere hours after the markets were slightly buoyed by a White House announcement that Donald Trump's global tariff plan would see a 90-day pause, the president decided to reverse course and threaten more tariffs.
In a nighttime post to Truth Social Thursday, Trump warned that Mexico could be subject to a higher tariff rate as punishment for allegedly violating an 81-year-old water treaty.
'Mexico OWES Texas 1.3 million acre-feet of water under the 1944 Water Treaty, but Mexico is unfortunately violating their Treaty obligation,' Trump wrote. 'This is very unfair, and it is hurting South Texas Farmers very badly.'
'Last year, the only Sugar Mill in Texas CLOSED, because Mexico has been stealing the water from Texas Farmers. Ted Cruz has been leading the fight to get South Texas the water it is owed, but Sleepy Joe refused to lift a finger to help the Farmers,' he continued.
'THAT ENDS NOW!' the president wrote. 'I will make sure Mexico doesn't violate our Treaties, and doesn't hurt our Texas Farmers. Just last month, I halted water shipments to Tijuana until Mexico complies with the 1944 Water Treaty. My Agriculture Secretary, Brooke Rollins, is standing up for Texas Farmers, and we will keep escalating consequences, including TARIFFS and, maybe even SANCTIONS, until Mexico honors the Treaty, and GIVES TEXAS THE WATER THEY ARE OWED!'
Mexico President Claudia Sheinbaum didn't outright reject the claim that her country had violated the water deal, but instead cited a three-year drought induced by climate change as the reason for the decreased shipments, noting on X that 'to the extent water is available, Mexico has been complying.'
'I have instructed the Secretaries of Agriculture and Rural Development and Foreign Affairs, as well as the Secretary of Environment and Natural Resources, to immediately contact the U.S. Department of Agriculture and the Department of State,' Sheinbaum wrote. 'I am confident that, as with other issues, an agreement will be reached.'
Meanwhile, Trump's hit-or-miss approach to enacting tariffs has sent the U.S. markets into a tailspin in little more than a week, leaving some financial experts believing that the president had done irreparable damage to America's trade reputation and its economy. Banks and investment firms are still predicting a high possibility of a recession, even after Trump caved to mounting domestic pressure Wednesday and announced a 90-day pause to his sweeping tariff proposal for 200 countries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Oil inches up, outcome of US-China trade talks awaited
By Anjana Anil (Reuters) -Oil prices edged up on Tuesday as market participants waited for the outcome of U.S.-China talks that could pave the way for easing trade tensions and improve fuel demand. Brent crude futures edged up 12 cents to $67.16 a barrel at 0041 GMT. U.S. West Texas Intermediate crude was trading up 13 cents at $65.42, after hitting its highest since April 4 earlier in the session. On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a U.S.-China trade deal. U.S.-China trade talks were set to continue for a second day in London as top officials aimed to ease tensions that have expanded from tariffs to rare earth curbs, risking global supply chain disruptions and slower growth. U.S. President Donald Trump said on Monday that the talks were going well and he was "only getting good reports" from his team in London. A trade deal between the U.S. and China could support the global economic outlook and boost demand for commodities including oil. Elsewhere, Iran said it would soon hand a counter-proposal for a nuclear deal to the U.S. in response to a U.S. offer that Tehran deems "unacceptable", while Trump made clear that the two sides remained at odds over whether the country would be allowed to continue enriching uranium on Iranian soil. Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and any easing of U.S. sanctions on Iran would allow it to export more oil, weighing on global crude prices. Meanwhile, a Reuters survey found that OPEC oil output rose in May, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction and Saudi Arabia and the United Arab Emirates made smaller hikes than allowed. OPEC+, which pumps about half of the world's oil and includes OPEC members and allies such as Russia, is accelerating its plan to unwind its most recent layer of output cuts. "The prospect of further hikes in OPEC supply continues to hang over the market," Daniel Hynes, senior commodity strategist at ANZ, said in a note. "A permanent shift to a market driven strategy (in OPEC) would push the oil market into a sizeable surplus in H2 2025 and almost surely lead to lower oil prices." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
22 minutes ago
- CNN
About 700 Marines being mobilized in response to LA protests
More than 700 Marines based out of the Marine Corps Air Ground Combat Center in California have been mobilized to respond to the protests in Los Angeles, and the troops will join the thousands of National Guard members who were activated by President Donald Trump over the weekend without the consent of California's governor or LA's mayor. The deployment of the full Marine battalion marks a significant escalation in Trump's use of the military as a show of force against protesters, but it is still unclear what their specific task will be once in LA, sources told CNN. Like the National Guard troops, they are prohibited from conducting law enforcement activity such as making arrests unless Trump invokes the Insurrection Act, which permits the president to use the military to end an insurrection or rebellion of federal power. The Marines being activated are with 2nd battalion, 7th Marines, 1st Marine division, according to US Northern Command. The activation is 'intended to provide Task Force 51 with adequate numbers of forces to provide continuous coverage of the area in support of the lead federal agency,' NORTHCOM said in statement, referring to US Army north's contingency command post. One of the people familiar with the Marine mobilization said they will be augmenting the guard presence on the ground in LA. Over 2,000 members of the California National Guard have been activated by the president, but only about 300 have been deployed to the streets of LA so far. Those initial 300 people were on a routine National Guard drill weekend when they were mobilized, which is why they were able to arrive so quickly, the person familiar said; it can take up to 72 hours for other guardsmen to be mobilized. The Marines are expected to bolster some of the guard members who have been deployed to LA in the last two days, this person said. And while the person familiar stressed that the Marines were being deployed only to augment the forces already there, the image of US Marines mobilizing inside the United States will stand in contrast to National Guardsmen who more routinely respond to domestic issues. While some Marines have been assisting in border security at the southern border, one US official said Marines have not been mobilized within the US like they are in California now since the 1992 riots in Los Angeles. While the Marines' tasks have not been specified publicly, they could include assignments like crowd control or establishing perimeter security. Lawyers within the Defense Department are also still finalizing language around the use-of-force guidelines for the troops being mobilized, but the person familiar said it will likely mirror the military's standing rules of the use of force. California Gov. Gavin Newsom described the involvement of Marines as 'unwarranted' and 'unprecedented.' 'The level of escalation is completely unwarranted, uncalled for, and unprecedented — mobilizing the best in class branch of the U.S. military against its own citizens,' Newsom said in a statement linking to a news story about the Marines mobilizing. Newsom disputed the characterization as a 'deployment,' which the governor described as different from mobilization. US Northern Command said in their statement, however, that the Marines will 'seamlessly integrate' with National Guard forces 'protecting federal personnel and federal property in the greater Los Angeles area.' Los Angeles Police Chief Jim McDonnell called for 'open and continuous lines of communication' between all agencies responding to protests in the city ahead of the deployment of US Marines. McDonell said in a statement that his agency and other partner agencies have experience dealing with large-scale demonstrations and safety remains a top priority for them. That communication will 'prevent confusion, avoid escalation, and ensure a coordinated, lawful, and orderly response during this critical time,' McDonnell stressed. This story and headline have been updated with additional developments.
Axios
24 minutes ago
- Axios
Freshman wishlist: Adam Schiff vs. Trump 2.0
Sen. Adam Schiff has some advice for President Trump when attempting to demean him: Pick one nickname. Why it matters: Schiff rose to cable TV stardom as an anti-Trump foil while leading the first impeachment. "Shifty Schiff" or "Watermelon Head" learned to give as good as he got. Trump called Schiff names. Schiff ensured he was impeached — twice. "[T]he cardinal rule of nicknames is: Just stick with one," Schiff told Axios in an interview. Schiff translated his MAGA notoriety into a safe Senate seat, first battling through a tough, expensive primary. Now he's ready for round two with Trump. "I've been thrust back into a lot of that responsibility again because what he's trying to do in the second term is even worse than what he tried to do in the first term," Schiff said. Zoom out: Before Trump dominated the national conversation, Schiff considered himself a fairly nonpartisan national security expert. He endorsed Jim Mattis for Secretary of Defense in 2016 when other Democrats didn't. Schiff had hoped for another rebrand in the Senate. "I was expecting a Biden or a Harris presidency, and the ability to just focus exclusively on what positive things I could get done," he told Axios. What to watch: He is enjoying visiting redder areas of the state after spending years representing just a slice of heavily Democratic Los Angeles. He shared about one such visit in the state's northeast. "I knew I had made progress when one of the farmers looked at me and said, 'I don't know why he calls you watermelon head. You have a perfectly normal-sized head.'" But it's doubtful he'll revert back to a less partisan posture, given the direction of Trump's second term. Driving the news: Two days after our interview, Trump deployed National Guard troops to tamp down on ICE protests in Los Angeles in opposition to Gov. Gavin Newsom (D-Calif.). "This action is designed to inflame tensions, sow chaos, and escalate the situation," Schiff posted on X on Saturday. He also repeatedly called for violence to stop at protests. "Assaulting law enforcement is never ok," he posted Sunday. Zoom in: Schiff tried to pass a resolution shortly before our interview to stop the administration from stripping civil rights leader Harvey Milk's name from a Navy ship. He has demanded financial disclosures from the White House, written letters to stop DOGE from shutting down USDA offices and tried to block the repeal of EV rules. "Most of my days are spent trying to walk this line between stopping the administration from violating the law and ignoring the Constitution on the one hand," Schiff said, "and continuing to deliver for Californians..." Schiff recognizes that his clashes altered his career trajectory. "I have my brand pre-Trump and my brand post-Trump," Schiff told Axios. Between the lines: Schiff's leadership in the House's first Trump impeachment made him a mortal enemy to Trump and his allies, leading to a "weirdly personal" dynamic, Schiff said.
