Canada announced that it will lift many of the retaliatory tariffs it placed on U.S. goods.
“In previous trade disputes, Canada has implemented a series of retaliatory tariffs. Their objectives have been to protect Canadian workers and businesses, and to incentivize a negotiated settlement with the United States. Few other countries have followed suit,” said Canadian Prime Minister Mark Carney.
“Let’s be clear, Canada currently has the best trade deal with the United States. While it is different from what we had before, it is still better than that of any country,” he added. “As we work to address outstanding trade issues with the U.S., it is important we do everything we can to preserve this unique advantage for Canadian workers and their families. Doing so will require both building on a soon-to-be revised CUSMA and developing a new form of trade and security partnership.”
“Canada will retain our tariffs on steel, aluminum and autos as we work intensively with the U.S. to resolve the issues there,” said Carney, who went on to explain that Canada and the United States will “intensify” discussions to “address current trade challenges in strategic sectors and to seize major immediate opportunities for trade, investment and security partnerships.”
President Donald Trump told reporters that he and Carney had a “very good call.”
“We want to be very good to Canada,” he said. “I like Carney a lot, I think he’s a good person, and we had a very good talk yesterday.”
Trump previously issued an order that increased tariff rates on Canada from 25% to 35%.
