Polymarket Traders Bet on Canadian Tariff Cuts After Lutnick Hints at Negotiations

There’s a 70% probability that the commerce warfare between Canada and the U.S. will likely be over by May, in response to odds on a Polymarket contract on the subject, as Commerce Secretary Howard Lutnick informed Fox Business that U.S. President Donald Trump was open to negotiation.

On Tuesday morning, Canada and Mexico confronted the implementation of 25% tariffs on all merchandise getting into the U.S., with President Trump citing their failure to curb fentanyl trafficking and unlawful immigration as a nationwide safety menace.

But later within the day, Lutnick appeared to supply a possible avenue for negotiation, with odds rising 20% in just a few hours on Polymarket.

I believe [Trump is] going to work one thing out with them,” Lutnick said on Fox Business. “It’s not going to be a pause, none of that pause stuff, however I believe he’s going to determine: you do extra, and I’ll meet you within the center someway and we’re going to in all probability announce that tomorrow.”

Lutnick’s comments also appeared to calm crypto markets on ‘Turnaround Tuesday’ with bitcoin (BTC) up 1.5% and trading comfortably above $87,000, according to CoinDesk Indices data.

The CoinDesk 20 (CD20), a measure of the efficiency of the world’s largest digital property, is up 2% on the information.