Lutnick: US could announce trade deal Wednesday with Mexico and Canada after imposing tariffs
CNN
US Commerce Secretary Howard Lutnick said that President Donald Trump could announce a trade deal with Mexico and Canada as soon as tomorrow, just one day after the US imposed punishing tariffs on the two nations and sparked retaliatory levies.
US Commerce Secretary Howard Lutnick said that President Donald Trump could announce a trade deal with Mexico and Canada as soon as tomorrow, just one day after the US imposed punishing tariffs on the two nations and sparked retaliatory levies. “I think he’s going to work something out with them,” Lutnick said on Fox Business. “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 be announcing that tomorrow.” Trump’s policies have added uncertainty for the world’s biggest economy. The whipsaw application of tariffs and signs that perhaps that policy could change, all within a 24-hour span, have complicated decisions for businesses and increased pressure on an economy already showing signs of strain. The White House imposed 25% across-the-board tariffs on Mexican imports and on nearly all Canadian imports early Tuesday. Canadian Prime Minister Justin Trudeau swiftly announced plans to implement a 25% tariff on C$30 billion ($20.7 billion) of US goods immediately, followed by an additional C$125 billion ($86.2 billion) in 21 days’ time. “This is a very dumb thing to do,” Trudeau said, in remarks that he said were directed at Trump. “There is absolutely no justification or need whatsoever for these tariffs today.”
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US Commerce Secretary Howard Lutnick said that President Donald Trump could announce a trade deal with Mexico and Canada as soon as tomorrow, just one day after the US imposed punishing tariffs on the two nations and sparked retaliatory levies.
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American consumers and businesses stand to pay a hefty price for the tariffs President Donald Trump enacted on the nation’s top three trading partners.
President Donald Trump’s blanket tariffs on Mexico and Canada took effect on Tuesday, an extraordinary action aimed at bringing America’s top trading partners to heel. But it threatens to weaken the North American economy, including that of the United States, at a time of significant stress.
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