President Donald Trump is considering reducing the 25 percent tariffs imposed on Canada and Mexico, according to Commerce Secretary Howard Lutnick in an interview on Fox Business Network. This development comes less than 18 hours after the tariffs took effect.
Lutnick’s Optimism on Negotiations
During the interview, Lutnick mentioned, “Both the Canadians and Mexicans were on the phone with me all day today trying to show that they’ll do better in reducing fentanyl flows into the United States.” He expressed confidence in Trump’s willingness to find a middle ground through negotiations.
Anticipated Announcement
Lutnick indicated that a resolution was imminent, stating, “It’s not going to be a pause — none of that pause stuff. But I think he’s going to figure out, ‘you do more, and I’ll meet you in the middle some way.’ We’re probably going to be announcing that tomorrow.”
He further elaborated, “The president moving with the Canadians and the Mexicans. So somewhere in the middle will likely be the outcome.” However, Lutnick clarified that immediate tariff relief for China was unlikely due to ongoing concerns about fentanyl production.
Future Trade Dynamics
As discussions progress, the dynamics of trade relations between the US, Mexico, Canada, and China are expected to evolve. Lutnick’s insights shed light on the potential shifts in policies and the balancing act of economic interests.
