Today, most of Canada’s counter-tariffs on $60 billion worth of U.S. goods have been lifted. The removal of the tariffs was initiated by Prime Minister Mark Carney, who argued that the tariffs were a sticking point in negotiations with the U.S. and that eliminating them was in Canada’s economic interest.
Certain levies are still in place on goods that do not comply with CUSMA, like tariffs on steel and aluminum to respond to U.S. tariffs aimed at these sectors.
Despite the removal, Canada-U.S. Trade Minister Dominic LeBlanc, who traveled to Washington last week to meet with U.S. Commerce Secretary Howard Lutnick, said that the two countries are no closer to reaching an agreement.
The Washington meeting “helped us move forward in the sense that we better understood the work that remains to be done,” LeBlanc stated, however, “We are not on the verge of having an agreement, but we are making progress.”
Catherine Cobden, CEO of the Canadian Steel Producers Association, stated that removing counter-tariffs was a “disappointment.”
“Reciprocal tariffs protect Canada’s industries and workers during this trade war,” she said.
On Friday, an appeals court ruled that Trump’s fentanyl-related tariffs were unlawful but allowed the tariffs to stay in effect while the case potentially moves to the U.S. Supreme Court.
By CEO NA Editorial Staff
