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US-Canada trade talks intensify as tariff deadline nears
Canada is trying to reach a deal before 50% tariffs on about $20 billion in Canadian imports take effect within 48 hours.
BBC Business reports that US-Canada trade negotiations are moving quickly as Canada seeks to avoid a new round of tariffs from the Trump administration due to begin within 48 hours.
Canadian negotiators have been in Washington for a week, aiming to agree before Wednesday when 50% tariffs are set to apply to some $20 billion (C$28 billion) of Canadian imports, covering roughly 5% of all Canadian imports.
Prime Minister Mark Carney said the talks are “very delicate and intense” and declined to discuss details in public, while emphasizing Canada is negotiating from “a position of strength.” US-Canada Trade Minister Dominic LeBlanc said on Monday, as talks continued, that the job was not yet done.
The US has asked Canada for concessions including removing remaining retaliatory tariffs on American autos, adjusting dairy quotas, and lifting a ban on US alcohol sales that most Canadian provinces imposed in early 2024 in response to Trump tariffs, a change that would depend on provincial agreement, BBC Business added. Canada has also pursued reductions or removal of US tariffs impacting steel, aluminium, automobiles, and lumber sectors.