Prime Minister Mark Carney expressed that ongoing negotiations with the U.S. to avert impending tariffs are at a critical stage. Carney intends to engage in discussions with his American counterpart within the next 48 hours to secure a mutually acceptable resolution.
During a press briefing in St. John’s, Carney refrained from divulging specifics about the negotiation progress to evade potential escalation of the situation. He emphasized the sensitive nature of the talks and the need to maintain a robust negotiating position.
In response to queries about potential retaliatory measures if an agreement is not reached, Carney affirmed readiness for all possible outcomes, stating, “I have contingency plans in place for any scenario.”
Trade Minister Dominic LeBlanc and chief negotiator Janice Charette have been actively engaging with U.S. Trade Representative Jamieson Greer in a bid to prevent the imposition of Section 338 tariffs and seek reductions in existing tariffs on industrial goods such as steel and aluminum. Their latest meeting with Greer and U.S. Commerce Secretary Howard Lutnick marked the lengthiest session to date.
While sources indicated that the recent ministerial meeting could be the final one, the status post-meeting remains uncertain. There is a possibility of further engagements before a crucial discussion between Carney and Trump before the tariff deadline on Wednesday.
Negotiations have centered on potential concessions from both sides. The U.S. is pushing for the removal of Canadian retaliatory tariffs on U.S. autos and modifications to the dairy sector, while Canada seeks the elimination of threatened Section 338 tariffs and significant relief for sectors impacted by existing levies.
Despite hints from Greer that the U.S. remains firm on its tariff stance, Canadian negotiators are hopeful for progress. Erin O’Toole, a member of the advisory committee, acknowledged some advancements in discussions and stressed the importance of reaching a fair deal beneficial to Canadian interests.
O’Toole warned of potential retaliatory measures from Canada if the U.S. proceeds with the planned 50% tariffs. He emphasized the adverse effects of tariff escalations on both economies and emphasized the need to avert such outcomes through diplomatic resolutions.
