Trump’s tariff pause doesn’t bring trade certainty, industry groups say
With less than two hours to go before the deadline for his new tariffs, Trump took to Truth Social to announce that the levies had been paused since a deal could be on the table.
Trump’s recent pause of tariffs on Canada doesn’t guarantee trade stability, according to industry groups. After months of intense talks, Canada is reportedly nearing an agreement with the U.S. to reduce steel, aluminum, and auto tariffs. Canadian premiers have requested that the government restock American alcohol on store shelves once the deal is finalized.
Prime Minister Mark Carney stated that Canada and the U.S. "are moving towards an agreement" that preserves the "Canadian advantage." However, details on the precise tariff reductions remain unclear. Softwood lumber negotiations appear to be a hurdle, as industry insiders doubt relief will be granted. Auto tariffs could affect Canadian-made vehicles and parts, with industry warning of potential plant closures if the 15 percent tariff proposed by the U.S. is implemented.
The main obstacle is the resumption of American alcohol sales, which could jeopardize the deal if not agreed upon by provinces. While Ottawa might provide extra help or policy adjustments for concerned businesses or provinces, the Liberals see the deal as beneficial for most regions despite potential concessions.
Written by urgent.news from Global News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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