Tariffs on Canada and Mexico Go Into Effect at Midnight, Trump Says

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  Asset backed securities crashed the economy in 2008.

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  Now they're back.

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  Plus, President Trump's tariffs against Canada and Mexico are expected to go into effect tonight.

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  That's not good news for the auto industry.

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  The integration of the supply chain is something that has taken decades,

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  that won't be very easy to unwind, be easy to destroy.

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  But to recreate and unwind is a really hard task.

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  And properties damaged by the recent fires in Los Angeles are in demand.

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  Alex It's Monday, March 3rd.

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  I'm Alex Osola for the Wall Street Journal.

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  This is the PM edition of what's news,

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  the top headlines and business stories that move the world today.

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  President Trump's 25% tariffs on goods from Canada

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  and Mexico are set to go into effect tonight at midnight.

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  Trump said today that his administration will go ahead with them, saying there is,

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  quote, no room left for negotiations with the US's continental neighbors.

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  One industry that would be hit particularly hard by these tariffs, the auto industry.

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  My colleague Anthony Bansi spoke with WSJ reporter Vipal Manga

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  about how the tariffs would add cost

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  to the deeply integrated North American automotive supply chain.

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