Monday, February 3, 2025

Justin Trudeau, Prime Minister of Canada on Twitter:

https://x.com/JustinTrudeau/status/1886529228193022429

I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly 10,000 frontline personnel are and will be working on protecting the border.
 
In addition, Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, launch a Canada- U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering. I have also signed a new intelligence directive on organized crime and fentanyl and we will be backing it with $200 million.
 
Proposed tariffs will be paused for at least 30 days while we work together.

There was a reason we put the key point in this morning's headline: Capital Markets: "Tariffs Roil Markets" (governments still talking)"

That's a 100 point reversal in the S&P from post time.