High-Stakes Talks: Navigating Trade Tensions Between Canada and the U.S.
Canada and the United States are in intense negotiations over a trade deal. Prime Minister Mark Carney stated a tariff-free agreement is unlikely, with an August 1 deadline looming. The U.S. has already imposed tariffs on the EU, and Canada might face tariffs too. The outcome remains uncertain.
Canada and the United States are entering a critical phase in trade deal discussions, confirmed Prime Minister Mark Carney. The talks are challenging, and a deal free of tariffs is unlikely, he told reporters on Monday.
The deadline for an agreement is August 1, a date set by U.S. President Donald Trump, who has threatened a 35% tariff on Canadian imports. Carney emphasized that any agreement must be advantageous for Canada, highlighting the complexity of the situation.
The United States has imposed a 15% import tariff on European Union goods, and Canada, with 75% of its exports going South, is concerned about similar tariffs. While Carney mentioned it's improbable to avoid tariffs entirely, discussions continue about their potential size and impact.
(With inputs from agencies.)
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