On the 4th, U.S. President Donald Trump imposed a 25% tariff on Canada and Mexico, and the next day, on the 5th, the U.S. Secretary of Commerce noted that there could be some relief measures regarding the tariff.
Minister Howard Gutnick said in an interview with Fox News, "Officials from Mexico and Canada have been on the phone with me all day, trying to show that they can do better," and added, "We might find a middle ground. We will probably announce that tomorrow. There is a possibility that a middle ground will be the outcome."
He continued, "President Trump is very fair and reasonable," adding, "So I think he can come up with something with them (Mexico and Canada). This will not be a deferral of the tariff, and he (President Trump) will find a way."
Minister Gutnick also referenced the United States-Mexico-Canada Agreement (USMCA), stating, "If you follow those rules, the president is considering giving you relief options," and emphasized, "However, if you do not follow the rules, you will have to pay the tariff."
Bloomberg interpreted this as "indicating the possibility of announcing plans to reduce tariffs on goods imported from Mexico and Canada."