Summary
U.S. Commerce Secretary Howard Lutnick said Trump will “probably” announce a tariff reduction deal with Canada and Mexico, tying it to their efforts to curb fentanyl trafficking.
However, Canada’s Foreign Minister Mélanie Joly denied any discussions, stating her office hadn’t been contacted about the plan.
Canada and Mexico imposed retaliatory tariffs after the U.S. enacted 25% levies.
Prime Minister Trudeau condemned Trump’s tariffs as “very dumb” and accused him of attempting to “collapse the Canadian economy” to enable annexation, vowing, "We will never be the 51st state.
The right move for Canada and Mexico is to pay the bill up front and move enough trade to other countries so USA will never be able to use strong-arm tactics again.
And that’s what’s happening, Europe is very interested in Canada and I hope Mexico will also get a piece of that.