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Trump May Roll Back Tariffs on Canada, Mexico Says Howard Lutnick – Impact On Crypto?

Author: Content Editor
U.S. Commerce Secretary Howard Lutnick has suggested that President Trump may ease tariffs on Canadian and Mexican goods, potentially signaling a compromise in U.S. trade policy. The move could reduce the recently imposed 25% tariffs on these countries. Following this announcement, the largest tech stock ETF rose nearly 1% in late trading and index futures rebounded. The details of Trump's plans were not disclosed but Lutnick hinted that the president would be open to finding a middle ground and would not remove the tariffs entirely. The announcement comes as the U.S. stock market experienced sharp declines due to concerns about trade tensions. The crypto market also suffered, with Bitcoin dropping 9%, but has since recovered, with Bitcoin trading up over 4% in the past 24 hours. Altcoins such as Ethereum, XRP, SOL, and Cardano have also seen slight increases. Crypto-related stocks have also seen gains in response to recent policy changes affecting the cryptocurrency sector.

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