Trudeau Not Willing To Lift Canada's Retaliatory Tariffs If Trump Leaves Some Tariffs On Canada

Canadian Prime Minister Justin Trudeau is not willing to lift Canada's retaliatory tariffs if Trump leaves any tariffs on Canada, a senior government official told The Associated Press

The official confirmed the stance on condition of anonymity as they were not authorized to speak publicly on the matter.

Trump imposed tariffs against Washington's three biggest trading partners, drawing immediate retaliation from Mexico , Canada and China and sending financial markets into a tailspin. President Donald Trump put 25 taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10 on Canadian energy.

Commerce Secretary Howard Lutnick said there might be carveouts coming - a softening of the U.S. position after Tuesday's tax hike hurt the stock market, worried consumers and started a trade war.

In a Wednesday interview with Bloomberg Television, Lutnick said that Trump would update his tariff plans with an afternoon announcement, possibly sparing sectors such as autos from the import taxes.