US official says Trump considering some Mexico, Canada tariff relief
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The news: US President Donald Trump is considering some relief after tariffs on imports from Mexico and Canada went into effect, Commerce Secretary Howard Lutnick has said.
What they said: “Both the Mexicans and the Canadians were on the phone with me all day today trying to show that they’ll do better, and the president’s listening, because you know he’s very, very fair and very reasonable,” Lutnick told Fox Business.
“So I think he’s going to work something out with them — 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 and we’re going to probably announcing that tomorrow.”
"He's looking carefully at that, trying to figure out is there a way in there that he can come in the middle, where he will give the Canadians and Mexican's something. But they've got to do more, they've got to end fentanyl deaths."
The context: US markets ended lower on Tuesday, local time, as trade tensions escalated, with the 25% US tariffs on imports from Mexico and Canada, along with doubled duties on Chinese goods, taking effect. China and Canada retaliated while Mexico has also vowed to respond likewise.
Lutnick didn’t detail exactly what Trump is considering but said the administration could announce a pathway for tariff relief on Mexican and Canadian goods covered by North America’s free trade agreement.
The source: Fox Business
