Howard Lutnick teases new Trump tariffs for Mexico and Canada as trade war escalates [Video]

11:28 EST 05 Mar 2025, updated 11:28 EST 05 Mar 2025

President Donald Trump could announce rolling back some of the tariffs imposed on Canada and Mexico as early as Wednesday.

It comes just days after the U.S. imposed 25 percent tariffs on all good imported from the two neighboring countries this week rocketing the country into a trade war.

Commerce Secretary Howard Lutnick appeared on Bloomberg on Wednesday morning where he said the president is considering easing some tariffs.

‘There are going to be tariffs, let’s be clear, but what he’s thinking about is which sections of the market that can maybe, maybe he’ll consider giving them relief,’ Lutnick said. 

The commerce secretary said that could go until they get to April 2.

The Trump administration appeared ready to blink first as the markets took a massive tumble this week, and Canada and China announced reciprocal tariffs.

But the trade war between the U.S. and major trade partners is far …