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      Trudeau Goes to Mar-a-Lago to See Trump Amid Tariff Concerns

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      Prime Minister Justin Trudeau of Canada is the first G7 leader to visit President-elect Donald J. Trump in Florida since the election. He is under pressure to persuade Mr. Trump to back down from his tariff threat.Prime Minister Justin Trudeau of Canada on Friday night landed in Florida to see President-elect Donald J. Trump at Mar-a-Lago, two officials with direct knowledge of the visit said, after a threat by Mr. Trump to impose across-the-board tariffs on goods from Canada and Mexico on Day 1.The visit makes Mr. Trudeau the first head of government from the Group of 7, a key forum of global coordination consisting of the world’s wealthiest democracies, to visit the president-elect.Mr. Trudeau and Mr. Trump were to dine together on Friday evening, one official said, along with a delegation of senior Trump allies poised for top trade and security positions in his new administration.Mr. Trudeau was accompanied on his visit by Dominic LeBlanc, Canada’s minister of public safety. The Canadian prime minister was expected to stay in the area overnight, but not at Mar-a-Lago, Mr. Trump’s private club and home in Palm Beach, Fla.The Trump transition team did not respond to requests for comment, and there was no information released about Mr. Trump’s schedule on Friday.Mr. Trudeau has been scrambling to formulate a plan to respond to the threat made this week by Mr. Trump to impose a 25 percent tariff unless Mexico and Canada take action to curb the arrival of undocumented migrants and drugs across their borders into the United States.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Mexico’s President and Trump Describe a Positive Talk but Differ on Migration Details

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      Mexico’s president, Claudia Sheinbaum, spoke to President-elect Donald J. Trump on Wednesday afternoon, and both later characterized their discussion as positive while providing different descriptions of what Mexico is doing to stave off a potential tariff war.While Mr. Trump posted on social media that Mexico had agreed to stop migration to the United States through Mexico, “effectively closing our Southern Border,” Ms. Sheinbaum limited her description of the migration-related issues they had discussed to migrant caravans no longer reaching the border with the United States.Still, Ms. Sheinbaum, who earlier in the day had made clear that Mexico would impose retaliatory tariffs in response to similar measures threatened by Mr. Trump, seemed to ease tensions by saying the exchange was “excellent.”“I had an excellent conversation with President Donald Trump,” she wrote on social media. “We addressed Mexico’s strategy regarding the migration phenomenon, and I shared that caravans are no longer reaching the northern border as they are being addressed within Mexico.”That update from Ms. Sheinbaum came after Mr. Trump jolted trade relations with Mexico by saying earlier in the week that he would impose a 25 percent tariff on all goods from the country unless Mexican authorities stopped migrants and drugs, such as fentanyl, from coming across the border. The proposed move raised concerns over the potential impact on Mexico’s economy, which relies on trade with the United States.Mr. Trump also posted on social media about the conversation with Ms. Sheinbaum, calling it “wonderful” and “productive.”“She has agreed to stop Migration through Mexico, and into the United States, effectively closing our Southern Border,” Mr. Trump said, though Ms. Sheinbaum referred only to the caravans. “We also talked about what can be done to stop the massive drug inflow into the United States, and also, U.S. consumption of these drugs,” he added.Ms. Sheinbaum said earlier on Wednesday, “If there are U.S. tariffs, Mexico would also raise tariffs” — making clear her stance on Mexico’s potential response.Senior officials in her government and leading figures in Mexico’s governing party, Morena, also expressed support for retaliatory tariffs. Mexico’s economy minister, Marcelo Ebrard, said that about 400,000 jobs could be lost in the United States if Mr. Trump imposed the tariffs, calling the measure a “shot in the foot” while speaking alongside Ms. Sheinbaum at a morning news conference.Mexico’s president did not refer to tariffs, or trade tensions in general, in her post about her conversation with Mr. Trump. Instead, she said she and Mr. Trump had “discussed strengthening collaboration on security issues within the framework of our sovereignty and the campaign we are conducting in Mexico to prevent fentanyl consumption.” More

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      ‘Excelente’: así fue la llamada de Sheinbaum y Trump tras la discusión arancelaria

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      La presidenta de México dijo que habló con el presidente electo de EE. UU. sobre temas como migración y seguridad.La presidenta de México, Claudia Sheinbaum, dijo el miércoles por la tarde que tuvo una “excelente conversación” con el presidente electo Donald Trump, aliviando las tensiones pocas horas después de dejar claro que México impondría aranceles de represalia en respuesta a medidas similares anunciadas por Trump.“Tuve una excelente conversación con el presidente Donald Trump”, escribió Sheinbaum en redes sociales. “Abordamos la estrategia mexicana sobre el fenómeno de la migración y compartí que no están llegando caravanas a la frontera norte, porque son atendidas en México”.La actualización de Sheinbaum se produce después de que Trump sacudió las relaciones comerciales con México al decir a principios de esta semana que impondría un arancel de 25 por ciento a todos los productos procedentes del país si las autoridades mexicanas no detenían a los migrantes y las drogas, como el fentanilo, que cruzan la frontera. La medida suscitó preocupación por el posible impacto en la economía de México, que depende del comercio con Estados Unidos.Trump también publicó en las redes sociales sobre la conversación con Sheinbaum, calificándola de “maravillosa” y “productiva.”“Ella ha accedido detener la migración a través de México, y hacia Estados Unidos, cerrando efectivamente nuestra frontera sur”, dijo Trump, aunque Sheinbaum se refirió solo a que las caravanas de migrantes ya no llegan a la frontera con Estados Unidos. “También hablamos de lo que se puede hacer para detener la entrada masiva de drogas a Estados Unidos, y también, el consumo estadounidense de estas drogas”, agregó.Sheinbaum dijo previamente el miércoles: “si llega a haber aranceles, México también subiría aranceles”, dejando clara su postura sobre la posible respuesta de México.Altos funcionarios de su gobierno y figuras destacadas del partido gobernante de México, Morena, también expresaron su apoyo a los aranceles de represalia. El secretario de Economía de México, Marcelo Ebrard, dijo que se podrían perder alrededor de 400.000 empleos en Estados Unidos si Donald Trump impone los aranceles, calificando la medida como un “tiro en el pie”, al participar junto a Sheinbaum en una conferencia de prensa matutina.La presidenta de México no se refirió a los aranceles, ni a las tensiones comerciales en general, en su mensaje sobre su conversación con Trump. En cambio, dijo que ella y Trump también “hablamos de reforzar la colaboración en temas de seguridad en el marco de nuestra soberanía y de la campaña que estamos realizando en el país para prevenir el consumo de fentanilo”. More

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      PCE, a Key Inflation Measure, Sped Up in October

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      Inflation has been stubborn in recent months. Now, President-elect Donald J. Trump’s tariffs loom as a potential risk.The Federal Reserve’s preferred inflation measure sped up in October, a development that is likely to keep central bankers wary as they contemplate the path ahead for interest rates.The Personal Consumption Expenditures index climbed 2.3 percent from a year earlier, quicker than 2.1 percent in September.After stripping out volatile food and fuel costs to get a better sense of the underlying trend in prices, a “core” index climbed 2.8 percent from a year earlier. That was up from 2.7 percent previously.Looking at how much prices climbed over just the past month, the overall index rose 0.2 percent from September, and the core index increased 0.3 percent. Both changes were in line with their previous readings and with economist expectations. Policymakers sometimes look at monthly price changes to get an up-to-date sense of how inflation is evolving.The upshot from the report is that inflation is proving sticky after months of steady progress. Price increases remain much cooler than they were at their peak in 2022, which topped out at about 7 percent for the overall index. But they remain slightly faster than the 2 percent pace that the Fed targets.That is preventing officials from declaring victory over inflation, although policymakers still expect price increases to continue to cool toward their goal.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Selects Jamieson Greer as Trade Representative

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      President-elect Donald J. Trump on Tuesday picked Jamieson Greer, a lawyer and former Trump official, to serve as his top trade negotiator. The position will be crucial to Mr. Trump’s plans of issuing hefty tariffs on foreign products and rewriting the rules of trade in America’s favor.Mr. Greer is a partner in international trade at the law firm King & Spalding. During Mr. Trump’s first term, Mr. Greer served as chief of staff to Robert E. Lighthizer, the trade representative at the time. He was involved in the Trump administration’s trade negotiations with China, as well as the renegotiation of the North American Free Trade Agreement with Canada and Mexico.Before that, Mr. Greer served in the Air Force, where he was a lawyer who prosecuted and defended U.S. airmen in criminal investigations. He was deployed to Iraq.“Jamieson will focus the Office of the U.S. Trade Representative on reining in the Country’s massive Trade Deficit, defending American Manufacturing, Agriculture, and Services, and opening up Export Markets everywhere,” Mr. Trump said.The position of trade representative has historically been fairly low profile, but it has taken on greater importance under Mr. Trump. In his first term, the office helped wage a trade war against China, imposed substantial tariffs on its products and negotiated a series of trade deals.In his next term, Mr. Trump has promised to again make aggressive use of the government’s authority over trade. On Monday, he said he would impose tariffs on all products coming into the United States from Canada, Mexico and China on his first day in office.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump’s Tariff Threat Pits Canada Against Mexico

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      If President-elect Donald J. Trump’s threat of hefty tariffs on Canada and Mexico was intended as a divide-and-conquer strategy, early signs show that it might be working.After his missive on Monday, in which he said he planned to impose a 25 percent tariff on all imports from both of the United States’ neighbors, Ottawa and Mexico City followed starkly different approaches.Mexico took a tough stance, threatening to retaliate with its own tariffs on U.S. goods. Canada, instead, emphasized that it was much closer aligned to the United States than Mexico.The trade agreement between the three North American nations has been carefully maintained over the past three decades through a delicate balance between the United States and its two key allies.As Mr. Trump prepares to take office, his willingness to tear that up to pressure the two countries on migration could open the door to the United States-Mexico-Canada agreement being replaced by separate bilateral deals with the United States.Chrystia Freeland, Canada’s finance minister, has tried to show that Canada is aligned with Mr. Trump’s hawkish attitude toward China.Blair Gable/ReutersWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump’s Tariff Threat Roils Global Markets

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      The dollar gained and investors sold off stocks after the president-elect promised to levy new restrictions on the United States’ biggest trade partners. President-elect Donald Trump’s economic policy is already roiling global markets.Brendan McDermid/ReutersThe other Trump trade Investors and policymakers are getting a dose of Trumponomics déjà vu this morning.Global stocks are falling, and the dollar is climbing. The volatility comes after President-elect Donald Trump’s vow to impose tariffs on the United States’ biggest trading partners — Canada, China and Mexico — on Day 1 in office in an apparent effort to clamp down on the flow of cross-border drugs, like fentanyl, and migrants.The latest:Trump wants to impose 25 percent tariffs on Canada and Mexico “on ALL products coming into the United States,” he said on Truth Social. He also wants an “additional” 10 percent tariff on imports from China, which Trump blames for the fentanyl crisis, a charge that Beijing has repeatedly disputed.The Canadian dollar and Mexican peso fell sharply against the dollar. Europe, Japan and South Korea weren’t even mentioned in Trump’s announcement, but stocks have fallen there, too. That suggests rising fears that a new trade war could scramble global supply chains and dent profits.Automakers are some of the hardest hit stocks, with Volkswagen, Stellantis and Nissan, which run manufacturing operations in Mexico, all down.Today’s losses have reversed some of yesterday’s “Bessent bounce” rally. Investors were relieved after Trump picked Scott Bessent, the market-friendly hedge fund mogul, to run the Treasury Department.But the reverberations show that it’s Trump calling the shots. The president-elect has made no secret of his desire to use tariffs to further his America-first agenda, and he has yet to announce his pick to be U.S. Trade Representative. (Another tariff supporter, Robert Lighthizer, is in the running.)Trump’s latest threats may be just a negotiating tactic. That’s the belief of some Trump backers, including Bill Ackman, the billionaire financier. But they are a reminder of how Trump set off alarm bells across diplomatic channels and international markets during his first term often via social media posts. “Waking up to check the tweets for any policy announcements could become the norm,” Mohit Kumar, an economist at Jefferies, wrote in a note this morning.Prime Minister Justin Trudeau of Canada spoke to Trump about trade and border security after the president-elect’s announcement, The Times reported. China pushed back. “No one will win a trade war,” a spokesman for the Chinese Embassy in Washington said in a statement.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump’s Dramatic Tariff Plan, and a Cease-Fire Takes Shape in Lebanon

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      Listen to and follow “The Headlines”Apple Podcasts | Spotify | Amazon Music | YouTube | iHeartRadioSalman Masood and Jessica Metzger and On Today’s Episode:Trump Plans Tariffs on Mexico, Canada and China That Could Cripple Trade, by Ana Swanson, Matina Stevis-Gridneff and Simon RomeroJack Smith Seeks Dismissal of Two Federal Cases Against Trump, by Alan Feuer, Charlie Savage and Devlin BarrettTop Trump Aide Accused of Asking for Money to ‘Promote’ Potential Appointees, by Maggie Haberman and Jonathan SwanNetanyahu Signals Openness to Cease-Fire With Hezbollah, Officials Say, by Ronen Bergman, Patrick Kingsley and Jack NicasPakistan Deploys Army in Its Capital as Protesters and Police Clash, by Salman MasoodOzempic Could Crush the Junk Food Industry. But It Is Fighting Back, by Tomas WeberWho Needs Congress When You Have Cameo?, by Joseph BernsteinPresident-elect Donald J. Trump said that he would impose tariffs on all products coming into the United States from Canada, Mexico and China on his first day in office.Edmund D. Fountain for The New York TimesTune in, and tell us what you think at theheadlines@nytimes.com. For corrections, email nytnews@nytimes.com.For more audio journalism and storytelling, download the New York Times Audio app — available to Times news subscribers on iOS — and sign up for our weekly newsletter. More