Lutnick: US could announce trade deal Wednesday with Mexico and Canada after imposing tariffs

By Bryan Mena and Elijah Shama, CNN

(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.

“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.”

The whipsaw application of tariffs and signs that perhaps that policy could change, all within a 24-hour span, underscored the uncertainty of Trump’s policies, complicating decisions for businesses and adding pressure to 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.

Mexican President Claudia Sheinbaum said she would will unveil Mexico’s response on Sunday.

Lutnick said he had spoken with both Canadian and Mexican representatives about trade among the three countries.

A Canadian government source confirmed to CNN that Canadian Finance Minister Dominic LeBlanc spoke with the US commerce secretary today.

The-CNN-Wire
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