President Donald Trump will “probably” announce a compromise with Canada and Mexico as early as Wednesday, which could scale back his new 25% tariffs on top U.S trading partners, Commerce Secretary Howard Lutnick said. The comments came after the U.S. stock market limped to a close for a second day of sharp declines. The Trump administration enacted sweeping tariffs on Canadian and Mexican imports after putting them on pause for a month. Lutnick’s comments came minutes after the U.S. stock market limped to a close for a second day of sharp declines, spurred at least in part by investors’ fears that Trump’s aggressive policies will ignite a crippling trade war.
After his remarks, U.S. stock futures tied to all three major averages rose.
