Tariffs: Mexico and Canada delayed, 25% coming Europe’s way

Thursday 27th February 2025

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President Trump has his first cabinet meeting and announced delays on the introduction of tariffs for Mexico and Canada (now April 2nd) and revealed how much Europe will be paying (25%) although he was a bit nonspecific on some of the detail. Nab’S Ray Attrill says the US Houe of Reps has also passed the budget, which includes big spending cuts, but tax cuts see the deficit expanding. It did impact bond yields a little, but there’s not been much market reaction to the latest tariff talk. Locally, CPI came in a little weaker than expected, helped by a continued fall in housing costs which could help bring down the next quarterly CPI result and keep the RVBA on track for a May cut

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