U.S. President Donald Trump has ignited a North American trade conflict by slapping tariffs on imports from Canada and Mexico, including a blanket 25 per cent rate and a reduced 10 per cent charge on Canadian energy.
Canada swiftly countered with 25 per cent retaliatory tariffs on $30 billion in U.S. goods, with plans to extend them to an additional $125 billion in American products within 21 days.\
U.S. stock markets appeared poised for a rebound after Commerce Secretary Howard Lutnick hinted at a possible softening of the steep tariffs. Futures signaled an upbeat opening, a welcome shift following widespread losses on Tuesday.In a Fox Business interview after trading closed, Lutnick suggested Trump might adjust the duties, though specifics remained vague. “No pauses—just a sense he’ll say, ‘You give a little, and I’ll find a middle ground,’” Lutnick remarked.