US commerce secretary: Trump will compromise with Mexico on tariffs, or announce reductions tomorrow

The Trump administration could announce a path to tariff relief on Mexican and Canadian goods as early as tomorrow, Commerce Secretary Luthnik said on Tuesday. "Mexican and Canadian officials have been on the phone with me all day today trying to show that they're going to do better, and the president is listening, so I think he's going to make some deals with them, it's not going to be a suspension of tariffs or something, but I think Trump's going to make compromises with them on some fronts, and we're probably going to announce it tomorrow," Luthnik said. "Tariffs will probably be set at < b > somewhere in the middle" and Trump will make some concessions to Canada and Mexico, but not all of them, "Luthnik said in an interview on Fox. Mr. Lutnik dismissed the idea that the tariffs would be rolled back altogether, pointing to the US-Mexico-Canada trade deal negotiated during Mr. Trump's first term. "If you follow those rules, then the president will consider giving you some reduction," he said. "If you don't follow those rules, then you have to pay tariffs." It was the first public signal since the tariffs were implemented that Mr. Trump might falter on the issue. To confuse the market, Mr. Trump also said that retaliatory tariffs imposed by Canada on the United States would immediately trigger the United States to "increase the equivalent amount of tariffs."