LeBlanc will meet with Greer as clock ticks down toward looming 50% tariffs

Canada's Trade Minister Dominic LeBlanc is set to meet with U.S. Trade Representative Jamieson Greer in Washington on Thursday as looming tariffs approach. This meeting comes with less than a week remaining before new American tariffs are implemented, which could significantly impact Canadian goods. Trade negotiator Janice Charette will also attend these talks.

LeBlanc emphasized that discussions are ongoing as Canada continues to defend its interests. While many Canadian goods have been spared from recent sectoral tariffs, the majority are still protected under the Canada-U.S.-Mexico Trade Agreement (CUSMA). President Trump has vowed to implement 50 per cent tariffs on a broad range of Canadian products in response to tariffs and retaliatory measures.

Canada has removed U.S. alcohol products from its shelves in response to the trade war. However, negotiations face challenges, with the Americans unwilling to accept a deal without tariff reductions on steel, aluminum, automobiles, and softwood lumber. Canada is prepared to accept tariffs if substantial cuts are made. Failure to renegotiate could lead to over 100,000 job losses in both countries.

Recent surveys indicate that many Canadian businesses have significant ties to the U.S., with many already cutting spending, delaying hiring, or raising prices in anticipation of the new tariffs.