President\u00a0Donald Trump\u00a0will \u201cprobably\u201d announce tariff compromise deals with Canada and Mexico soon, Commerce Secretary Howard Lutnick said Tuesday.<\/p>\n
The potential agreements would likely involve scaling back at least part of Trump\u2019s brand new 25%\u00a0tariffs\u00a0on imports from Mexico and Canada, he added.<\/p>\n
Lutnick\u2019s comments came minutes after the\u00a0U.S. stock market\u00a0limped to a close for a second day of sharp declines, spurred at least in part by investors\u2019 fears that Trump\u2019s aggressive policies will ignite a crippling trade war.<\/p>\n
The compromise with Canada and Mexico will likely be revealed as soon as Wednesday, Lutnick said on \u201cFox Business.\u201d<\/p>\n
While the Cabinet secretary did not specify what Trump would agree to, he suggested the U.S. president would be willing to meet Canada and Mexico \u201cin the middle.\u201d He also appeared to foreclose on the possibility that Trump would lift the tariffs entirely.<\/p>\n
The Trump administration on Tuesday reimposed sweeping 25% tariffs on Canadian and Mexican imports after putting them on pause for a month.<\/p>\n
Trump, who has held up tariffs as an all-powerful negotiating tool, based the policy on allegations that the neighboring countries were failing to stem the flow of drugs and crime into the U.S.<\/p>\n
\u201cBoth the Mexicans and the Canadians are on the phone with me all day today, trying to show that they\u2019ll do better,\u201d Lutnick said Tuesday afternoon.<\/p>\n
\u201cAnd the President is listening because, you know, he\u2019s very, very fair and very reasonable. So I think he\u2019s going to work something out with them,\u201d he said.<\/p>\n
Lutnick described a deal in which Canada and Mexico agree to \u201cdo more,\u201d at which point Trump would \u201cmeet you in the middle some way.\u201d<\/p>\n
\u201cWe\u2019re going to probably be announcing that tomorrow,\u201d he said.<\/p>\n
Lutnick said the announcement would not be another pause.<\/p>\n
The comments came hours before Trump was set to deliver a primetime address to a joint session of Congress.<\/p>\n<\/p>\n
President\u00a0Donald Trump\u00a0will \u201cprobably\u201d 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\u2019s brand new 25%\u00a0tariffs\u00a0on imports from Mexico and Canada, he added. Lutnick\u2019s comments came minutes after the\u00a0U.S. stock market\u00a0limped to a close for a second […]<\/p>\n","protected":false},"author":0,"featured_media":15632,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=15631"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/15632"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=15631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=15631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=15631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}