Commerce Secretary Lutnick announced that the majority of tariffs on Canada and Mexico are likely to be postponed by one month. This delay aims to facilitate ongoing trade discussions and mitigate potential economic impact on both nations.
Browsing: US-Canada relations
In a recent commentary, CNBC’s Lutnick suggested that President Trump may announce a reduction of tariffs on Canada and Mexico as early as Wednesday. This potential shift could reshape trade relations and impact key industries in both nations.
In a recent statement, Canadian Prime Minister Justin Trudeau criticized former President Trump’s tariffs as “dumb,” suggesting they are part of a broader strategy aimed at facilitating a potential U.S. annexation of Canada. Trudeau’s remarks underscore heightened tensions between the neighboring nations.
Starting Tuesday, Trump’s tariffs on imports from Canada and Mexico will take effect, affecting a range of goods. Consumers could see rising prices on products such as steel, aluminum, and certain food items as costs increase along the supply chain.