The leaders of Mexico and Canada evidently spoke today and it’s not clear they’re teaming up like Japan, South Korea and China but they’re clearly co-ordinating or sharing ideas.

The Canadian statement said:

• They discussed the importance of building investment and trade relationships between the two countries
• Plan to fight ‘unjustified’ trade action

Both are bracing for potential bad news. Trump said tariffs would go into effect on April 3 so there won’t be much time to pull anything out of the fire.

The statement:

Today, the Prime Minister, Mark Carney, spoke with the President of Mexico, Claudia Sheinbaum.

The leaders had a productive call, discussing the importance of building upon the strong trading and investment relationship between the two countries, to benefit Canadians and Mexicans alike.

With challenging times ahead, Prime Minister Carney and President Sheinbaum emphasized the importance of safeguarding North American competitiveness while respecting the sovereignty of each nation. Prime Minister Carney also highlighted his plan to fight unjustified trade actions against Canada, protect Canadian workers’ businesses, and build Canada’s economy, including through increased trade between Canada and Mexico.

The leaders agreed that ministers and senior officials will continue to work together to advance shared priorities.

Prime Minister Carney and President Sheinbaum agreed to remain in close contact.

This article was written by Adam Button at www.forexlive.com.