{
  "id": 1717476,
  "title": "‘The negotiations are very intense and delicate’: Carney, Trump hold crunch talks to avoid midnight 50% tariff deadline",
  "url": "https://urgent.news/2026/08/18/the-negotiations-are-very-intense-and-delicate-carney-trump-hold",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T13:11:22.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/08/18/trump-canada-hockey-tariffs-smoot-hawley/"
  },
  "original_language": "en",
  "account": "U.S. President Donald Trump and Canadian Prime Minister Mark Carney are engaged in intense and delicate negotiations to avoid imposing a 50% tariff on Canadian goods, set to take effect at midnight on Wednesday. If no agreement is reached, the tariffs would apply to $20 billion worth of Canadian products, including items such as hockey sticks and tongue depressors. Canadian Prime Minister Carney, speaking in French to reporters, emphasized the seriousness of the situation, stating that the negotiations are \"very intense and delicate.\" The two nations have a long history of trade disputes, including issues surrounding Canadian softwood lumber imports and U.S. access to Canada's protected dairy market. Despite these disagreements, the countries maintain a strong friendship and economic partnership. The U.S.-Canada border, spanning 5,525 miles, is undefended and sees nearly 330,000 people and $2 billion worth of goods crossing it daily, with over 800,000 Canadians residing in the United States. Trump's aggressive approach towards Canada stands in stark contrast to the traditional cooperative relationship between the two nations. The Canadian public is growing increasingly frustrated, with a petition to expel the U.S. ambassador collecting nearly 218,000 signatures since July 21. The petition accuses Ambassador Pete Hoekstra of normalizing Trump's comments about annexing Canada. With nearly 72% of Canadian goods exports going to the United States, both sides are seeking a way to avoid the tariffs, which could negatively impact American consumers ahead of the November midterm elections. The U.S. administration is attempting to convince Canada to increase purchases of U.S. military equipment and provide greater access to critical minerals, while Canada is seeking relief from U.S. tariffs on steel, aluminum, and softwood lumber. Trump's economic agenda for his second term relies heavily on tariffs, and he has threatened to use Section 338 of the Tariff Act of 1930 to impose 50% tariffs on Canadian products. This is the first time this provision has been used, and it is based on the historical Smoot-Hawley tariffs, which are known to have exacerbated the Great Depression.",
  "summary": "The threat is 50% tariffs on $20 billion of Canadian goods; the real target is leverage before North America’s trade pact is remade.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Financial Post",
        "title": "Here’s what top economists are saying about the potential impact of Trump’s 50 per cent tariffs as deadline nears",
        "url": "https://urgent.news/2026/08/18/heres-what-top-economists-are-saying-about-the-potential-impact-of",
        "published": "2026-08-18T16:02:04.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}