U.S. Commerce Secretary Hints at Tariff Relief Discussions

U.S. Commerce Secretary Howard Lutnick revealed plans for potential tariff relief on goods from Mexico and Canada after discussions with President Trump. While potential relief might target certain sectors, wider reciprocal tariffs are still on track to commence from April 2, with some taking immediate effect.

U.S. Commerce Secretary Howard Lutnick announced potential relief on tariffs concerning goods from Mexico and Canada is anticipated later on Wednesday. This development follows his discussions with President Donald Trump, who is assessing which sectors, including automobiles, could benefit from such relief.

During an interview with Bloomberg TV, Lutnick mentioned that despite the possibility of tariff relief in specific sectors, broader reciprocal tariffs are scheduled to begin on April 2. While some tariffs will be implemented immediately, others may take weeks or even months before going into effect.

The details surrounding which sectors will experience immediate relief and how wider tariffs will impact trade dynamics continue to unfold, indicating a strategic approach towards international trade policies.

(With inputs from agencies.)