India, March 5 -- The Canadian market closed on a strong note on Wednesday as stocks rallied on news the Trump administration is considering reducing the tariffs on Canadian and Mexican imports.
The mood remained positive following U.S. Secretary of Commerce Howard Lutnick hinting at some potential adjustments for U.S. tariffs on Canada and Mexico, noting that carve-outs for some industries are a possibility.
"There are going to be tariffs, let's be clear," Lutnick reportedly told Bloomberg Wednesday morning in a live interview. "It will be 25% but.....there will be some categories left out; it could well be autos, could be others as well," he said.
Materials, consumer discretionary and technology stocks rose sharply. Shares from industr...