Stocks Bounce As Lutnick Hints At USMCA-Compliant Tariff Exemptions
US equity markets are rebounding off yesterday’s lows following remarks by US Commerce Secretary Howard Lutnick on CNBC that raise the potential fdor exemptions for any goods that are USMCA-compliant:
Trump will decide Thursday on the scope of a one-month exemption on 25% tariffs imposed this month on the US’s two largest trading partners, Lutnick said in an interview with CNBC.
“I think it’s likely it will cover all USMCA-compliant goods and services,” he said.
This comes on the day when the trade balance data shows a record trade deficit overall (as imports surged to front-run tariffs)…
Lutnick said he and Trump would be speaking with their Mexican counterparts later Thursday and that both Mexico and Canada “offered us an enormous amount of work on fentanyl.”
The knee-jerk reaction was positive – erasing around half of this morning’s selloff…
The question is – will these be temporary exemptions… or will Trump change his mind again?
As a reminder, we are at a critical level on the Trump Tariff 1.0 analog…
Will it be different this time?
Tyler Durden Thu, 03/06/2025 – 10:21
Source: https://freedombunker.com/2025/03/06/stocks-bounce-as-lutnick-hints-at-usmca-compliant-tariff-exemptions/
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