Lutnick: We are going to reset trade policy on April 2

• We need to see material reductions in opioid deaths
• We are going to reset trade policy on April 2
• Canada and Mexico have abused the US on autos
• If Canada and Mexico can prove they can stop the flow of fentanyl, the tariffs could come off
• Hopefully Mexico will understand this is not a trade war, it’s a drug war
• We want car manufacturing to come back to Michigan and Ohio
• Interest rates will come down 100 or 150 bps lower
• There may well be short-term price movements

Lutnick hinted at even more tariffs on Canada and Mexico on April 2 due to his trade policy on reciprocal tariffs. I thought we might get some hints of a truce here but that wasn’t the case.

This article was written by Adam Button at www.forexlive.com.