Donald Trump gibt Mark Carney drei Tage mehr Zeit bis zu den neuen Zöllen

President Donald Trump has granted Mark Carney an additional three days to negotiate new tariffs. The outcome of this potential deal remains uncertain. Carney cannot afford to comply fully with Trump's demands. When Trump began imposing tariffs on various goods, most trading partners distanced themselves. This was not the case for Carney, who countered with retaliatory tariffs on steel, aluminum, and certain cars.

At the 2026 WEF in Davos, he delivered a controversial speech, blaming Trump for the demise of the rules-based trading system. He urged "middle powers" to build alternatives to the US. Since then, Canada and Trump have remained on a collision course. Trump threatened new 50% tariffs on July 20th unless Canada lifted restrictions on American goods like wine, dairy, or cars within a month.

The new tariffs were supposed to take effect on Wednesday, hitting about 5% of Canada's exports, including wine, hockey sticks, cement, milk, or cheese. Trump postponed the imposition by three days, citing a deal with Canada as virtually sealed. His trade adviser later confirmed an extensive market access agreement, commitments to economic security, and alignment on digital trade.

Carney used more cautious language, calling it "significant progress" with "more work to do." He stressed that Canada should not chase an agreement at any cost; the US must cut its tariffs on steel, aluminum, and Canadian cars. Such concessions have not been mentioned by Trump or his trade office. Canada's negotiating position remains challenging.

While the country could absorb the latest tariffs, individual businesses and sectors would suffer severely. A new deal must be seen in the context of renegotiating the USMCA, which Trump abandoned during his first term with Canada and Mexico. Despite USMCA allowing most Canadian goods duty-free entry into the US, Trump rejected its renewal, triggering difficult renegotiations.

Washington is currently conducting bilateral talks with Mexico; Canadian negotiations were stalled due to the trade dispute. Long-term, Canada faces the possibility of the end of the free trade agreement, which would be harder to bear than the current threatened tariffs. Carney cannot afford to fully comply with Trump's demands for political reasons.

As the country's top trade partner, Canada suffered significant losses when Trump imposed tariffs. In the populace, this hard stance is popular. Many Canadians boycott American products, cancel vacations in the US, and have boycotted Canadian wines and spirits in state-run liquor stores. Kentucky bourbon producers and California winemakers lost their main export market overnight.

The US economy can absorb these losses, but the blow has hit hard. A potential deal might hinge on the doubted Keystone XL pipeline, which Trump mentioned in his announcement. Keystone XL was supposed to transport Canadian oil from Alberta to the US Midwest and Gulf Coast refineries. Biden endorsed the project in 2021, but Trudeau abandoned it, causing internal tensions.

In Canada's more populous eastern provinces, a majority believed other projects should take priority. The oil-producing province of Alberta lost more than a billion dollars due to the cancellation of Keystone XL. However, Carney used the pipeline to appease Alberta and as a bargaining chip in talks with Trump, apparently successfully as shown by Trump's latest announcement.

Trump has since made numerous other deals that fell through, like with Iran. Canadian certainty will only arrive if the new tariff deadline expires on Saturday. Alberta is pushing for a referendum on seceding from Canada. As many Canadians fear Donald Trump will ruin their economy, many in Alberta dread a hit to their oil sector by Ottawa.

The World Cup final was briefly threatened due to poor air quality. President Trump threatens Canada with sanctions for not doing enough to combat wildfires, adding more tension to an already fraught situation.