Trump hints at easing tariffs for Canada, Mexico

Donald Trump announced a change to his planned tariffs that could ease trade tensions with Canada and Mexico. He suggested that the previously promised April 2 tariffs might not be as severe. Trump indicated that he would consider lowering tariffs on these neighbors as he feels embarrassed by how much they have charged the U.S. Despite this, Trump confirmed a 25% tariff on oil and gas imports from Venezuela would still be enacted on April 2, which he is calling "Liberation Day in America." He emphasized that the U.S. could benefit from the revenue to help lower taxes and create jobs. The news has boosted U.S. stock markets, with the S&P 500 rising 1.8% and the Nasdaq up 2.3%. Market optimism stems from expectations that tariffs will be more targeted than previously feared. However, uncertainty remains because the S&P 500 is still down this year due to concerns about a potential trade war affecting economic growth. Following Trump's announcement, Canadian Prime Minister Mark Carney expressed anger over the ongoing trade conflict. He accused Trump of attacking Canadian workers and businesses. The relationship between the U.S. and Canada has been tense, especially after Trump imposed a 25% tariff on Canadian imports. In another focus, Trump announced that Venezuela would face severe tariffs starting April 2, affecting countries that buy oil from the South American nation. This move is seen as an effort to counter Venezuela's hostile stance toward the U.S. and its allies.