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 trade talks proceed with less than a week remaining before new American tariffs take effect. Trade negotiator Janice Charette will also participate in these discussions. LeBlanc stated that the talks aim to advance and defend Canadian interests.

While Canada has faced U.S. tariffs for over a year, the majority of Canadian goods under the Canada-U.S.-Mexico Trade Agreement (CUSMA) have been spared. However, Trump has threatened to impose 50% tariffs on a broad range of Canadian products in response to perceived discriminatory measures. The U.S. has cited Canada's alcohol boycotts, retaliatory tariffs on American vehicles, and quotas on dairy imports as justifications.

Both sides have encountered obstacles in negotiations, with the Americans insisting on retaining tariffs on steel, aluminum, automobiles, and softwood lumber. Canada, however, is prepared to accept losses if there isn't substantial tariff reduction. Failure to renew the CUSMA deal would result in significant job losses in both countries.

Recent surveys indicate that many Canadian businesses heavily rely on the U.S. market, with some already cutting spending or adjusting prices.