The Canadian Federal Minister oversees the business relations in the US-Canada, Dominic Leblanc, on Sunday he said he sees the way to reduce newly stored American tariffs.
Leblanc expressed optimism that it would be possible to achieve an agreement to reverse or reduce 35% American tariff to Canadian goods that are not covered by a trade agreement (USMCA), and talk about CBS News.
“I believe there is a possibility to conclude an agreement that will reduce tariffs,” Leblanc said, just a few days after President Donald Trump signed an executive order to increase tariffs, quoting worries about Fentanyl trading and concerns about national security.
The Canadian government led by Prime Minister Marek Carney has expressed disappointment over movement, but is still dealing with dialogue, and Leblanc suggests that “high -level interviews between Carney and Trump” in the next number of days “could appear.
Business tension means the latest development in a growing economic dispute between the two countries, with the potential effects of the ripple on the key industry including lumber, cars and production.
Potential dialogue in the middle of growing tariffs
Despite the tension, US Secretary of Trade Howard Lutnick has indicated the possibility of flexibility and said that Trump could reconsider a hike if Carney alleviates the Canadian retaliation.
Reactions and exceptions to Canada
Canada previously responded to American trade movements with two rounds of opponents at the beginning of this year. The first, under the deputing Prime Minister Justin Trudeau, focused on exports in the US about $ 30 billion, including food, clothing and motorcycles. The second round coincided with American tariffs on steel, aluminum and foreign cars.
In mid -April, however, the government Carney introduced exceptions for certain trade inputs critical to health care, public security and industrial production. Automobic as General Motors and Honda, which operate by Canadian production plants, was also awarded a relief from import obligations.
Economic impact
New American tariffs are expected to hit key Canadian exports, including lumber, steel, aluminum and vehicles. While retaliation have been introduced, Canada continues to allow most American goods to enter customs without tariffs.
(Tagstotranslate) business relations between US-Canada
