US, Canada Still See Sticking Points Before Deadline for 50% Tariffs
Canadian and US negotiators are working against an Aug. 19 deadline to avert 50 percent tariffs on Canadian goods. While discussions remain constructive, significant work is still required to resolve key trade disputes.
Canada's chief trade negotiator Janice Charette and cabinet minister Dominic LeBlanc are leading talks with US counterparts to avoid a new wave of tariffs, according to Canadian Chamber of Commerce CEO Candace Laing. The two nations, which recently traded $900 billion together, are expected to continue negotiations through the weekend.
Laing stated that while discussions are constructive, there is still significant work to do in a short period to reach an interim deal by August 19, when the US has threatened to implement 50% tariffs. The US wants Canada to scrap retaliatory trade measures and address issues like dairy quotas and automotive tariffs. However, Canadian officials warn that retaliatory tariffs could escalate the trade dispute.
Prime Minister Mark Carney has indicated that all options will be considered if the new levies are imposed, while acknowledging the need to balance retaliation with the potential harm to the Canadian economy.
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