President Trump recently increased tariffs on Canadian imports from 25% to 35% for all goods not covered by the US-Mexico-Canada Agreement (USMCA), citing Canada’s failure to curb fentanyl smuggling and ongoing trade barriers. This escalation came despite over 90% of Canadian exports entering the U.S. duty-free, affecting key sectors like steel, aluminum, and automobiles.
Canadian Prime Minister Mark Carney, who replaced Justin Trudeau in April, insists that Canada will only agree to a fair deal and criticized the tariffs for damaging long-standing economic and security ties. Chief negotiator Dominic LeBlanc confirmed that no agreement is close yet and warned that critical Canadian sectors remain U.S. targets. Talks are expected to continue in the coming weeks, with meetings planned between Canadian officials and U.S. Commerce Secretary Howard Lutnick.
Carney previously threatened retaliatory tariffs but did not mention them in his latest statement, reflecting internal debate in Canada. Some, like former Trudeau adviser Brian Clow, caution against further retaliation, while business leaders, including Goldy Hyder of the Business Council of Canada, stress the urgency of a new strategy, warning that Canada’s economy is too fragile to delay.OEXN: Ottawa: Canada-US trade agreement may still take weeks to finalize
President Trump recently increased tariffs on Canadian imports from 25% to 35% for all goods not covered by the US-Mexico-Canada Agreement (USMCA), citing Canada’s failure to curb fentanyl smuggling and ongoing trade barriers. This escalation came despite over 90% of Canadian exports entering the U.S. duty-free, affecting key sectors like steel, aluminum, and automobiles.
Canadian Prime Minister Mark Carney, who replaced Justin Trudeau in April, insists that Canada will only agree to a fair deal and criticized the tariffs for damaging long-standing economic and security ties. Chief negotiator Dominic LeBlanc confirmed that no agreement is close yet and warned that critical Canadian sectors remain U.S. targets. Talks are expected to continue in the coming weeks, with meetings planned between Canadian officials and U.S. Commerce Secretary Howard Lutnick.
Carney previously threatened retaliatory tariffs but did not mention them in his latest statement, reflecting internal debate in Canada. Some, like former Trudeau adviser Brian Clow, caution against further retaliation, while business leaders, including Goldy Hyder of the Business Council of Canada, stress the urgency of a new strategy, warning that Canada’s economy is too fragile to delay.Publication date:
2025-08-04 11:23:42 (GMT)
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