U.S. Tariffs Test Allies’ Trust

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 5 March 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Mar. 5. President Trump has granted some automakers an exemption from the 25% tariffs on goods from Mexico and Canada. WSJ senior markets columnist James Mackintosh says that no matter what happens with the tariffs, America’s closest allies will consider any future agreements to be temporary. Plus, the president wants to build a federal cryptocurrency reserve. Reporter Amrith Ramkumar tells us how that would actually work. And Greenland is full of mineral deposits. European security correspondent Sune Engel Rasmussen explains why those minerals are so hard to get. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is sponsored by Northern Trust Wealth Management.
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0:07.0	What is it about an entrepreneur's childhood that helped fuel their entrepreneurial spirit?
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0:17.0	Tune in each month to the Road to Why podcast by the Northern Trust Institute,
0:21.5	where host Eric Chappaya dives deeper with leading entrepreneurs on these topics and more.
0:26.3	Find the Road to Why where you listen to your favorite podcasts.
0:32.6	President Trump gives some automakers a one-month exemption to tariffs. But is the damage to the U.S.'s reputation already done?
0:40.0	This is a moment when people start to say, well, hang on, can we really trust America?
0:45.5	Plus, how would the president's crypto reserve actually work?
0:49.3	And why aren't mining companies all over Greenland extracting its mineral riches?
0:54.6	It's Wednesday, March 5th.
0:56.3	I'm Alex Oslo for the Wall Street Journal.
0:58.6	This is the PM edition of What's News, the top headlines and business stories that moved the world today.
1:08.8	First on today's show, the latest on President Trump's 25% tariffs on goods from Canada and Mexico.
1:15.5	The White House Press Secretary Caroline Levitt said the president is giving a one-month exemption to automakers who comply with the U.S.MCA, a previous trade deal between the U.S., Canada, and Mexico.
1:27.7	She said the request came from the heads of Ford, General Motors, and Stalantis.
1:32.2	Meanwhile, President Trump and Canadian Prime Minister Justin Trudeau spoke this morning about tariffs with no apparent breakthrough.
1:39.4	In a social media post this afternoon, Trump said he had told Trudeau that Canada's efforts to stop the flow
1:45.2	of fentanyl into the U.S. weren't good enough. But no matter what happens with these tariffs,
1:50.3	they've already changed how other countries perceive the U.S.S. senior markets columnist
1:55.6	James McIntosh is here to tell us about it. James, what did the tariffs change for US allies?
	...

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