Trade Tensions: U.S.-Canada Deal Faces Hurdles Amid Tariff Strains
A U.S.-Canada trade agreement remains elusive as high tariffs fuel tensions. Prime Minister Mark Carney and negotiators emphasize the importance of a favorable deal while coping with U.S. imposed tariffs on crucial Canadian sectors. Talks continue amid concerns over economic impact and strategic retaliatory measures.
A potential trade deal between the U.S. and Canada continues to hang in the balance, as Ottawa's chief negotiator suggests an agreement is likely weeks away. This news follows a move by U.S. President Donald Trump to increase tariffs on Canadian imports, raising them to 35% from a previous 25%.
Despite an urgent need to stabilize bilateral relations, Prime Minister Mark Carney and Canadian officials remain steadfast on securing a beneficial agreement. While over 90% of Canadian exports to the U.S. are duty-free, tariffs on vital sectors like steel, aluminum, and automobiles pose challenges.
Federal cabinet minister Dominic LeBlanc stresses that Canada seeks an advantageous deal amidst an economy affected by U.S. trade policies. Talks with U.S. officials will persist, with the hope of reaching a mutually satisfying solution that addresses both nations' concerns.
(With inputs from agencies.)
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