Canada and the U.S. resumed trade talks ahead of the deadline
Canadian-U.S. negotiations on a preliminary trade agreement continued until the final hours before the U.S.-set deadline. Canada’s Minister for Trade with the U.S., Dominique Leblanc, said after a meeting with U.S. officials in Washington that the two sides still need to finalize the terms of the agreement, according to BBC News.
LeBlanc spent about eight hours in meetings with U.S. Trade Representative Jamison Greer and other negotiators. If no agreement is reached, Canada faces a new wave of additional U.S. tariffs on a wide range of goods.
U.S. President Donald Trump did not confirm the conclusion of a final agreement a few hours before the deadline, but said that negotiations were progressing. The full details of any potential agreements have not been made public. At the same time, according to reports obtained by several media outlets, the U.S. may reduce tariffs on Canadian steel and aluminum from 50% to 25%, and on automobiles from 25% to 15%.
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Canada is reportedly considering resuming sales of American alcohol, expanding access for American dairy producers to its market, and lifting the retaliatory tariffs imposed on goods from the U.S. To resume sales of U.S. alcohol, Canadian Prime Minister Mark Carney needs the support of provincial leaders.
Manitoba Premier Wab Kinyu urged caution on making concessions and insisted that Canada must secure favorable terms. Quebec Premier Christine Fréchette stated that she is analyzing the potential impact of the agreement on farmers in the province, which has a well-developed dairy industry. Meanwhile, the leaders of Nova Scotia and the Yukon Territory have indicated their readiness to resume sales of American alcohol.
Conservative opposition leader Pierre Pouliotte called any agreement that would impose unilateral tariffs on Canadian industry a bad deal. Calgary-based economist Trevor Tomb, in his analysis, estimated that Canada could lose 90,000 jobs if the new tariffs threatened by Trump were imposed.
