Summary
Prime Minister Mark Carney stated that a trade deal between Canada and the United States might include some tariffs. The US recently announced a 35% tariff on Canadian goods set to start on August 1, while Canada has responded with its own measures against US tariffs.
Key Facts
- Mark Carney is the Prime Minister of Canada, discussing trade negotiations with the US.
- The US plans to apply a 35% tariff on Canadian goods beginning August 1.
- Trump has previously imposed a 50% tariff on global aluminium and steel and a 25% tariff on non-US cars and trucks.
- Canada has responded with its own counter-tariffs to US measures.
- Canada and the US are major trading partners, with Canada selling about 75% of its exports to the US.
- Most trade between the US, Canada, and Mexico is currently duty-free due to an agreement called the US-Mexico-Canada Agreement (Cusma).
- Around 91% of Canadian exports to the US are duty-free under this agreement.
- Talks are ongoing, and Carney mentioned he would only agree to a deal beneficial to Canada.
