Although U.S. President Donald Trump’s Aug. 1 deadline is fast approaching, there is no sign of a breakthrough yet on a new Canada-U.S. trade deal after a week of talks in Washington, D.C. Ottawa continues to say it won’t sign anything that isn’t in Canada’s best interest.
Breakdown
- Canadian officials met with U.S. lawmakers and Commerce Secretary Howard Lutnick to discuss a new trade deal.
- Negotiators acknowledge that a breakthrough is not imminent despite ongoing talks. 39s
- Tariffs on Canadian goods are set to rise from 25% to 35% unless a new agreement is reached. 56s
- Exemptions for KUSMA-compliant goods will continue despite the tariff increase. 1m 5s
- Canadian officials are preparing new support measures for workers and businesses affected by the tariffs. 1m 20s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.