A senior Canadian official said U.S. President Donald Trump and Canadian Prime Minister Mark Carney are expected to speak in the coming days following Washington’s decision to impose a 35% tariff on Canadian goods not covered under the USMCA trade pact.
Dominic LeBlanc, Canada’s cabinet minister responsible for U.S. trade relations, told CBS’s Face the Nation that while progress has been made in discussions with U.S. officials — Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer — a final agreement to ease tariffs has yet to be reached.
LeBlanc said he remained hopeful that a deal could still be struck that would lower tariffs and provide more investment certainty.
The new U.S. tariffs were partly justified by accusations that Canada has failed to stop fentanyl smuggling. Canadian officials, however, argue that Canada is responsible for only about 1% of U.S. fentanyl imports and is actively working to reduce that further.
The move marks the latest escalation in a months-long trade dispute reignited after Trump returned to office earlier this year.
This article was written by Eamonn Sheridan at investinglive.com.
