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Trump has described himself as a master dealmaker. But the retreat from his Canada and Mexico duties had all the hallmarks of trade policy being shaped on the fly.

The industry is pressuring the Japanese government to take steps to head off any additional duties.

The tariffs were set to disrupt a third of car production in North America within a week.

Tesla’s weakening numbers in China, the world’s biggest auto market, are in stark contrast to BYD, whose sales were up 161% year-on-year.

Mexico continued to attempt to negotiate with the Trump administration right up to the deadline. Canada swore to introduce retaliatory tariffs.

The long-promised tariffs scheduled to take effect March 4 would easily be among the most sweeping of the Trump era, applying to roughly $1.5 trillion in annual imports.

As recently as five weeks ago, a ton of steel was selling for less than $700. But by this week, prices were as high as $1,000.

"The EU wasn’t formed to screw anyone," Polish Prime Minister Donald Tusk wrote on X February 27.