US Commerce Secretary Lutnick Hints Trump May Roll Back Tariffs on Canada and Mexico
US Commerce Secretary Howard Lutnick told Fox News on Tuesday that US President Donald Trump may roll back tariffs on Mexican and Canadian imports as early as Wednesday. While speaking to reporters later in the day, "it will not eliminate the tariffs, but it might modify the tariffs somewhat. That's a decision that will come tomorrow," he explained.
Commenting on the impact of tariffs on prices during a separate interview with CNBC, "there may well be short-term price movements, but in the long-term, it's going to be completely different," Lutnick said.
Key highlights
If USMCA rules are followed, Trump is considering a relief.
We will see tariff changes on April 2nd with Canada and Mexico.
The administration will balance the US budget.
Trump is to move with Canada and Mexico, but not all the way.
Trump is considering relief for USMCA-compliant goods.
However, the New York Times reported early Wednesday that President Trump signalled privately he'll stick with tariffs.
Source : Fxstreet
