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Canada and the US will launch formal discussions to the review their free trade agreement in mid-January, the office of Canadian Prime Minister Mark Carney said. The prime minister confirmed to provincial leaders that Dominic LeBlanc, the country's point person for US-Canada trade relations, will meet with US counterparts in mid-January to launch formal discussions," Carney's office said in a statement late Thursday. The United States-Mexico-Canada trade pact, or USMCA, is up for review in 2026. US President Donald Trump negotiated the deal in his first term and included a clause to possibly renegotiate the deal in 2026. Carney met with the leaders of Canada's provinces on Thursday to give them an update on trade talks with the US. Canada is one of the most trade-dependent countries in the world, and more than 75 per cent of Canada's exports go to the country's southern neighbour. But most exports to the US are currently exempted by USMCA. Trump cut off trade talks to reduce tarif
President Donald Trump said on Saturday that he plans to hike tariffs on imports of Canadian goods by an extra 10 per cent because of an anti-tariff television ad aired by the province of Ontario. The ad used the words of former President Ronald Reagan to criticize U.S. tariffs, angering Trump who said he would end trade talks with Canada. Ontario Premier Doug Ford said he would pull the ad after the weekend, and it ran Friday night during the first game of the World Series. Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD, Trump said in a post on his Truth Social platform as he flew aboard Air Force One to Malaysia. "Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now. It was not immediately clear when the 10% hike would come into effect, nor whether it would apply to all Canadian ...
Prime Minister Mark Carney set a goal for Canada to double its non-US exports in the next decade, saying American tariffs are causing a chill in investment. Carney, who will release his government's budget on Nov 4, said Wednesday many of Canada's former strengths based on close ties to America have become vulnerabilities. The jobs of workers in our industries most affected by US tariffs autos, steel, lumber are under threat. Our businesses are holding back investments, restrained by the pall of uncertainty that is hanging over all of us, Carney said. US President Donald Trump has been threatening Canada's economy and sovereignty with tariffs, most offensively by claiming Canada could be the 51st state. Carney reiterated in an evening address to Canadians that the decades-long process of an ever-closer economic relationship between the Canadian and US economies is now over. "The US has fundamentally changed its approach to trade, raising its tariffs to levels last seen during
Canadian Prime Minister Mark Carney raised the prospect of reviving the contentious Keystone XL pipeline project with US President Donald Trump during his White House visit this week, a government official familiar with the matter said Wednesday. A Canadian company pulled the plug on it four years ago after the Canadian government failed to persuade then-President Joe Biden to reverse his cancellation of its permit on the day he took office. It was to transport crude from the oil sand fields of western Canada to Steele City, Nebraska. Trump previously revived the long-delayed project during his first term after it had stalled under the Obama administration. It would have moved up to 830,000 barrels (35 million gallons) of crude daily, connecting in Nebraska to other pipelines that feed oil refineries on the US Gulf Coast. The Canadian government official said Trump was receptive to the idea when it was talked about during their White House meeting Wednesday. The official said Carney
US President Donald Trump raised the tariffs on Canadian goods to 35 per cent last week, but a key exemption for Canada and Mexico shields the vast majority of goods from the punishing duties. Goods that comply with the 2020 United States-Mexico-Canada Agreement trade pact that Trump negotiated during his first term are excluded from the tariffs. Here is a look at Trump's tariffs on the two countries and their exemptions: Most Canadian exports reaching the US duty free Canada's central bank says 100 per cent of energy exports and 95 per cent of other exports are USMCA compliant. The Royal Bank estimated that almost 90 per cent of Canadian exports appear to have accessed the US market duty free in April. Canadian Prime Minister Mark Carney said the commitment of the United States to the core of USMCA, reaffirmed again last week, means the US average tariff rate on Canadian goods remains one of its lowest, and over 85 per cent of Canada-US trade continues to be tariff free. "Canada