Key Points
- President Donald Trump will “probably” announce a compromise with Canada and Mexico as early as Wednesday, which could scale back his new 25% tariffs on top U.S trading partners, Commerce Secretary Howard Lutnick said.
- The comments came after the U.S. stock market limped to a close for a second day of sharp declines.
- The Trump administration enacted sweeping tariffs on Canadian and Mexican imports after putting them on pause for a month.
President Donald Trump will “probably” announce tariff compromise deals with Canada and Mexico soon, Commerce Secretary Howard Lutnick said Tuesday.
The potential agreements would likely involve scaling back at least part of Trump’s brand new 25% tariffs on imports from Mexico and Canada, he added.
Lutnick’s comments came minutes after the U.S. stock market limped to a close for a second day of sharp declines, spurred at least in part by investors’ fears that Trump’s aggressive policies will ignite a crippling trade war.
After his remarks, U.S. stock futures tied to all three major averages rose.
The compromises with Canada and Mexico will likely be revealed as soon as Wednesday, Lutnick said on “Fox Business.”
https://www.cnbc.com/2025/03/04/trump-tariff-compromise-canada-mexico-commerce-lutnick.html