Trump prepares to ease tariffs on Mexico and Canada
Illustrative photo: US may reconsider tariffs on Canada and Mexico (Getty Images)
US President Donald Trump is considering the possibility of easing tariffs on Mexico and Canada. The president will attempt to negotiate with the authorities of these two countries, according to US Secretary of Commerce Howard Lutnick's interview on Fox Business.
He did not rule out that as early as tomorrow, the Trump administration may announce a reduction in tariffs on Mexican and Canadian goods covered by the North American Free Trade Agreement.
"Both Mexicans and Canadians were on the phone with me all day today, trying to convey that it would be better for them. And the President’s listening, because he’s very, very fair and very reasonable," stated Lutnick.
According to the Secretary, Trump plans to negotiate with these countries. He noted that this time it's not about a pause in the imposition of tariffs.
"He’s gonna figure out - you do more, and I’ll meet you in the middle somewhere," emphasized the US Secretary of Commerce.
Trump's trade war
In early February, the Trump administration announced the introduction of 25% tariffs on goods imported from Canada and Mexico. These measures are aimed at combating drug cartels and the spread of fentanyl.
The new restrictions were set to take effect on February 4, but after negotiations with the governments of both countries, the White House postponed their implementation for a month.
On March 4, the tariffs on goods from Canada and Mexico came into force.
In response, Canadian Prime Minister Justin Trudeau announced reciprocal 25% tariffs on goods from the United States.
However, Trump threatened to double the 25% tariffs on Canada.
Meanwhile, the government of the Canadian province of Ontario proposed halting electricity exports to the US.
