Negotiators fear U.S. tariffs will be imposed, as provinces and Washington dig in on demands
Negotiators are trying to avert new 50% U.S. tariffs on about US$20 billion in Canadian goods and ease sectoral duties on steel, aluminum and autos.
- On Wednesday, the U.S. government will impose a 50% tariff on US$20 billion of Canadian goods, utilizing Section 338 of the Tariff Act of 1930 to enforce the measure.
- Relying on an obscure legal tool dating back to the Great Depression, the administration's plan announced last month prioritizes trade enforcement over traditional diplomatic channels.
- Bradley Saunders, a North America economist with Capital Economics, warned the tariffs risk stalling CUSMA talks by reigniting a "tit-for-tat trade war," dampening business confidence.
- Canada's near-term gross domestic product is likely to suffer as a result of the impending duties, though Saunders suggests a recession remains unlikely.
- Securing a last-minute trade deal would likely force Ottawa to surrender significant bargaining leverage, leaving Canada in a difficult position for future CUSMA negotiations.
18 Articles
18 Articles
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Final countdown for Canada to avoid 50% tariffs from the US Washington and Ottawa are down to the wire with last-minute talks to reach an agreement by 12:01 a.m. Wednesday, when President Donald Trump has threatened to impose 50% tariffs on over $20 billion of Canadian goods. The proposed tariffs would hit Canadian exports to the US — everything from hockey sticks to paper — in retaliation for Canadian tariffs on US automobiles and bans by most …
According to the White House, these new tariffs, which must reach $20 billion in Canadian goods, are a response to the "discriminatory treatment of U.S. products."
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Canada Races to Reach U.S. Trade Deal Before 50% Tariffs Take Effect Wednesday
Canadian and U.S. negotiators remain deadlocked just days before 50% tariffs are scheduled to take effect on hundreds of Canadian goods, with Ottawa seeking both ... The post Canada Races to Reach U.S. Trade Deal Before 50% Tariffs Take Effect Wednesday first appeared on [your]NEWS.
US-Canada trade talks are bogged down by auto sector tariffs
With less than 36 hours to go before new U.S. tariffs on Canada are set to kick in, automotive sector rules are proving to be a major obstacle in negotiations, according to people familiar with the matter. Canada has pushed to reduce the tariff ...
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