Trump could water down tariffs on Canada and Mexico

News Snapshot:

Donald Trump is weighing plans to water down sweeping US tariffs on goods from Canada and Mexico, according to a senior official, one day after an economic strike on the US’s two biggest trading partners sparked warnings of price increases and disruption. The US president extended his aggressive trade strategy at midnight on Tuesday by targeting the country’s two closest neighbors with duties of 25%. US retail giants predicted that prices were “highly likely” to start rising on store shelves almost immediately, raising questions about Trump’s promises to “make America affordable again” after years of heightened inflation. Howard Lutnick, the...