Trump floats shock tariff backflip in major boost to global trade as markets rally: ‘I’m embarrassed’ [Video]

Canada and Mexico may get some relief after Donald Trump said ‘reciprocal tariffs’ may not be as harsh as he once promised.

Trump on Monday said that a 25% tariff on oil and gas from Venezuela will be implemented on April 2, a day he claims will be ‘LIBERATION DAY IN AMERICA.’ 

However, when speaking to the media in the Oval Office later that day, he was more flexible on some of the other tariffs, in part to make an example of their neighboring countries and allies.

Trump said: ‘We may take less than what they’re charging because they’ve charged us so much, I don’t think they could take it.

‘In other words, they’ve charged us so much that I’m embarrassed to charge them what they’ve charged us,’ he added, though he did not specify which countries he was considering a reversal for.

Trump said that some of his other tariffs on cars, …