Prime Minister Mark Carney stated that he sees little chance of a U.S. trade deal without some tariffs included, saying, “There’s not a lot of evidence right now” that the U.S. will agree without them. President Donald Trump announced a 35% tariff on Canadian goods effective Aug. 1, but exemptions will apply for compliant products under the Canada-U.S.-Mexico Agreement.
Discussions are expected to intensify as the Aug. 1 deadline approaches, with Carney indicating that Canada will sign an agreement only if it is in its best interest.