Lutnick Promises to Negotiate with Canada

U.S. Trade Secretary Howard Lutnick confirmed on Fox Business that automobile tariffs will be implemented starting April 2. Lutnick also expressed the intention to negotiate various trade issues with Canada, highlighting that some foreign steel prices are expected to rise and emphasizing the need for collaboration with the U.S. to integrate economies. He indicated the possibility of tariff reductions if other countries respond.

This statement follows Ontario Premier Doug Ford's decision to temporarily suspend the planned 25% additional charge on electricity exported to the U.S. after a productive discussion on economic relations. The dialogue between Ford and Lutnick began after President Donald Trump announced plans to increase tariffs on steel and aluminum imported from Canada by 50%. Following their meeting, Lutnick agreed to discuss the renewed U.S.-Mexico-Canada trade agreement in Washington, D.C. on Thursday.