U.S. Commerce Secretary: Tariffs on Mexico to be imposed at 3/4, but may not be 'that high,' President Trump is still negotiating...

President Trump reiterated last week that he will implement his 25% tariff policy on Canada and Mexico as scheduled in March, and will also impose an additional 10% tariff on China, causing a drop in the stock and currency markets. However, as the deadline approaches, there seems to be a turning point. (Background: Trump threatens to impose a 25% tariff on the EU, BTC hits $82,200! Fear and Greed Index hits a two-and-a-half-year low) (Background: Trump imposes reciprocal tariffs! The U.S. dollar index falls to a two-month low, CNN: The barking dog does not bite) President Trump launched a tariff war in early February, announcing a 25% tariff on Canada and Mexico. Initially, the market believed there was a possibility of further postponement of Trump's tariff policy, but last week Trump once again emphasized that his tariff policy will be implemented as scheduled after March, and will also impose an additional 10% tariff on China (to be raised to 20%): 'Drugs continue to pour into our country from Mexico and Canada in very high and unacceptable amounts. A large part of these drugs, especially fentanyl, is manufactured and supplied by China. More than 100,000 people died last year from these dangerous and highly addictive substances... We cannot allow this disaster to continue to harm America, so the tariffs scheduled to take effect on March 4 will be implemented as planned until this situation stops or significantly decreases. China will also be subject to an additional 10% tariff on that date. On April 2, reciprocal tariffs on all countries will also take full effect.' Is there still hope for the Canada-Mexico tariffs? As March 4 approaches, U.S. Commerce Secretary Howard Lutnick mentioned in an interview with Fox News on Sunday that Trump's tariff plan is still a constantly changing situation. He said: 'We will impose tariffs on Mexico and Canada on Tuesday. But the specifics (numbers) of the tariffs will be left to the President and his team to negotiate... On the other hand, U.S. Treasury Secretary Scott Bessent said in a Bloomberg TV interview last weekend that Mexico plans to follow the U.S. in imposing the same tariffs on China, and urged Canada to follow suit: 'One proposal from the Mexican government, I think, is quite interesting, that Mexico may cooperate with us in imposing tariffs on China. I think it would be a good gesture if Canada followed suit. To some extent, we can have a North American fortress to resist the flood of Chinese imports...' Bessent did not clearly explain the extent to which Mexico's proposed cooperation. Currently, the U.S. tariff on Chinese imported goods announced by Trump on February 4 is 10%, but according to Trump's threats last week, it will be doubled to 20% starting this month. Bloomberg News cited sources revealing that Mexico may target automobiles and related components for its main items subject to tariffs on China, while Canada has already imposed tariffs on Chinese electric cars, steel, and aluminum, to some extent, to align with U.S. policy. Various signs indicate that Canada and Mexico have made many changes and negotiations to avoid being subject to a 25% tariff. How will Trump decide on March 4 and whether it will bring a new wave of market turbulence? Investors, please be cautious. Other Market Focus this week: 3/5 (Wednesday) U.S.: Nonfarm Payrolls Change for February, forecast 183K, previous value 183K U.S.: Services PMI for February, forecast 52.9, previous value 49.7 3/6 (Thursday) Eurozone: Interest Rate for March, forecast 2.75%, previous value 2.90% U.S.: Initial Jobless Claims for early March, previous value 242K Eurozone: ECB Press Conference 3/7 (Friday) U.S.: Average Hourly Earnings for February (MoM), forecast 0.3%, previous value 0.5% U.S.: Nonfarm Employment for February, forecast 133K, previous value 143K U.S.: Unemployment Rate for February, forecast 4.0%, previous value 4.0% 3/8 (Saturday) U.S.: Federal Reserve Monetary Policy Report U.S.: Fed Chair Powell Speech Related Reports Fed fears tariff impact on inflation, calls for 'slow rate cuts,' Fed megaphone: Balance sheet reduction may slow or pause Wall Street Journal harshly criticizes: Inflation rises for three consecutive months, Trump launches tariff war and calls for rate cuts are a mess Trump threatens to impose tariffs on multiple countries next week, U.S. January nonfarm employment mixed, BTC surges to 100,000 and then falls sharply 'Double kill for both long and short' (U.S. Commerce Secretary: Canada-Mexico tariffs will be imposed on 3/4, but may 'not be that high' as President Trump is still negotiating...) This article was first published on BlockTempo, the most influential blockchain news media on the Block.