As Prime Minister Mark Carney announced support for the softwood lumber industry dealing with the impact of a U.S. trade war, he acknowledged the government could drop some retaliatory tariffs if it helps other industries.

West Kelowna

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

Mark Carney has stated that Canada may consider reducing some of its retaliatory tariffs against the United States if doing so would benefit Canadian industries. This follows the imposition of 25% tariffs on a range of U.S. products after Canada failed to reach a trade agreement with the U.S. by a recent deadline. Carney emphasized that previous tariff removals have helped sectors such as the auto industry and suggested similar measures could be taken for others.

To further support affected sectors, Carney announced a suite of financial measures for the softwood lumber industry, including $1.2 billion in loans, grants, and contributions, as well as a $25 billion financing plan for affordable housing using Canadian lumber and workers. Talks with the U.S. are ongoing, with Carney describing them as fluid, and the Prime Minister has not recently spoken directly with President Trump.

Carney suggests U.S. tariffs could drop to help Canadian industry

The Prime Minister on the move at a lumber mill in B.C. as he faces questions about his next move against Donald Trump. We have always said that we will apply tariffs where they have the maximum impact in the United States and a minimum impact in Canada. Mark Carney showing no signs he'll retaliate against Trump's latest tariff hike. And now says he's open to dropping some countermeasures if it helps Canadian industries out. In March, Canada imposed retaliatory tariffs of 25% on a long list of products worth almost $30 billion. We have removed some tariffs over time so that, for example, the auto industry can function more effectively and we'll look at opportunities to do so. That surge after Canada failed to reach a deal with Trump by August 1st or get an extension like Mexico did. The U.S. ambassador to Canada on power and politics suggested it came down to a vibe. Well I think it's because of the feeling in the room or the energy in the room when the negotiators are talking to each other. You're saying it's the energy in the room is the reason why Canada got hit and Mexico did not? Number one, Canada really didn't get hit very hard. Two Canadian ministers traveled to Mexico City to meet with the president that got that extension and is yet to retaliate against Trump. Canada's economic relationship with the United States differs significantly from Mexico's. Without a deal on the table Carney's focused on helping the industries hit hard. His latest announcement, a suite of measures to help the softwood lumber sector. Let's be clear. Canada does not dump lumber into the United States and we will continue to make the case that these current and proposed duties are unjustified. Carney promised to use Canadian lumber and workers as part of his plan this fall to give companies $25 billion in financing to build more affordable homes. He's also rolling out $1.2 billion in loans, grants and contributions to the sector. And this package is similar to what Carney offered the steel industry last month. Ashley, what else do we know about the status of talks with the U.S.? Well Heather, last week Carney called negotiations intense, complex and tough. Now he's saying they're very fluid. The Prime Minister also revealed he hasn't talked to Trump in recent days but said he will when it makes sense. Ashley Burke in Ottawa, thank you very much.

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Carney suggests U.S. tariffs could drop to help Canadian industry

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