March 5 (Reuters) - Futures tied to Canada's main stock

index climbed on Wednesday following a challenging two-day

decline, amid news of U.S. President Donald Trump's

administration contemplating easing the stringent tariffs on

Canadian and Mexican imports.

By 6:32 a.m. ET (1132 GMT), futures for March on the S&P/TSX

index had risen 0.43%.

The Toronto Stock Exchange's S&P/TSX composite index

tumbled 1.7% by the close on Tuesday, settling at

24,572. This marked its second consecutive day of significant

losses and its steepest decline since December 18.

U.S. Commerce Secretary Howard Lutnick said on Tuesday the

government was considering easing the 25% tariffs on Canadian

and Mexican imports to products that comply with the trade pact

negotiated with the two nations during Trump's first term.

Two sources privy to the discussions between the Trump

administration and officials from Canada and Mexico said the

negotiations are focused on exemptions for companies that adhere

to the rules of origin in the 2020 U.S.-Mexico-Canada Agreement.

These discussions primarily, though not exclusively, target

the automotive industry.

Trump escalated a global trade war on Tuesday after he

imposed the tariffs on top U.S. trade partners, citing

ineffective border controls.

Canada sought consultations with the U.S. at the World Trade

Organization, challenging what it perceives as 'unjustified

tariffs.'

In the realm of commodities, gold prices edged higher,

buoyed by a softer U.S. dollar and political uncertainties

stemming from the recent tariff developments.

Conversely, oil prices continued their downward trajectory

for a third consecutive session as investors expressed concerns

over OPEC+'s plans to increase output in April.