Canadian Prime Minister Mark Carney spoke with U.S. President Donald Trump as both countries work to reach a last minute trade agreement before new 50% U.S. tariffs on Canadian imports take effect on Wednesday.
The tariffs would affect about $20 billion worth of Canadian goods, including products previously protected under the USMCA trade agreement.
A major sticking point in the negotiations is the existing 25% U.S. tariff on Canadian vehicles. Canada is seeking a reduction to 15%, while the two sides remain divided over how to calculate North American content in vehicles.
Canadian officials have warned that the new tariffs could lead to job losses, business closures and reduced investment, particularly in sectors such as lumber, wine and dairy.
Leave a comment