Trump could ease on tariffs for Canada, Mexico

US Secretary of Commerce Howard Lutnick says President Donald Trump is prepared to offer more temporary reprieve from sweeping tariffs imposed on Canada and Mexico.

Trump will reportedly hold back on duties on many or all Canadian and Mexican goods until April. The president on Wednesday announced a 30-day reprieve for the automotive industry.

It is now “likely” that relief “will cover all USMCA compliant goods and services," Lutnick told CNBC on Thursday.

“So that which is part of President Trump’s deal with Canada and Mexico are likely to get an exemption from these tariffs”.

“The reprieve is for one month,” he added.

Trump Thursday morning said he spoke with Mexican President Claudia Sheinbaum and that he will pause sweeping tariffs on imports from Mexico, according to Insider Paper.

Trump remarked on the positive relationship between himself and Sheinbaum and affirmed he doesn't plan to add further tariffs on Mexico.

However, "this Agreement is until April 2nd,” he said.

Trump during his State of the Union address Tuesday night acknowledged tariffs would cause widespread disruption.

“A little disturbance, but we’re okay with that,” Trump told Congress.

Trump was poised to impose 25% tariffs on Canada and Mexico on his first day in office on January 20. However, he relented until February 4. Then he offered a 30-day window for America’s neighbouring countries to get busy securing their border and minimizing fentanyl trafficking issues.

Tariffs went into place on Tuesday, March 4 at 12:01 a.m. ET. Prime Minister Justin Trudeau answered with counter-tariffs imposed at the same time.

Trudeau on Thursday told reporters the aim is to have no tariffs between the two countries. Ontario Premier Doug Ford made similar remarks on a radio show Wednesday night.