US EditionWill Trump's Trade Deals Save Your Pocketbook?
CANADA, JUL 29 – Canada faces higher tariff threats of up to 35% as its trade relationship with the U.S. differs from Europe and Japan, complicating negotiations, officials say.
- Last week, President Donald Trump unveiled tariff deals with the European Union and Japan, setting 15% tariffs and securing $600 billion and $750 billion investment commitments, prompting questions about whether Canada should follow suit.
- Amid looming tariff threats, Canada faces the risk of 35% duties on some goods if no deal is reached, but Prime Minister Mark Carney said cross-the-board tariffs are hard to accept.
- James Knightley, ING’s chief international economist, said the EU trade deal is 'mildly important' for American consumers.
- With deals secured, Trump said, `I think it's great that we made a deal today instead of playing games and maybe not making a deal at all, I think it's the biggest deal ever made`.
- In the coming months, analysts warn inflationary effects from tariffs could intensify, and Canada may struggle to reach a deal before the Aug. 1 deadline.
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ANALYSIS | What Trump's tariff deals with Europe and Japan mean for Canada
U.S. President Donald Trump's successive announcements of deals setting baseline tariffs on the European Union and Japan are prompting questions about whether they're a road map for Canada to follow in trade talks.
·Canada
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Coverage Details
Total News Sources22
Leaning Left1Leaning Right18Center3Last UpdatedBias Distribution82% Right
Bias Distribution
- 82% of the sources lean Right
82% Right
14%
R 82%
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