Trump Says US, Canada Near Tariff Deal as 50% Duties and 25% Auto Levies Hang
Updated
Updated · Yahoo Finance · Aug 22
Trump Says US, Canada Near Tariff Deal as 50% Duties and 25% Auto Levies Hang
3 articles · Updated · Yahoo Finance · Aug 22
Summary
Late Friday, Trump said a US-Canada tariff deal was "pretty much" struck, signaling a breakthrough as negotiators worked toward a midnight deadline in Washington.
The emerging pact would trade broader US market access for tariff relief across autos, metals, farm goods and liquor, with 25% auto tariffs reportedly cut to 15% if remaining disputes are resolved.
Those disputes still center on autos and Canada's steel, aluminum and lumber sectors, which Trump hit with tariffs of up to 50% last year after accusing Canada of discriminatory practices in autos, alcohol and dairy.
Liquor has become the clearest visible concession: Carney has urged provinces to end a boycott of US wine and spirits, though Manitoba Premier Wab Kinew said he would not back down and urged consumers not to buy them.
The stakes are high because the US takes about 62% of Canada's trade, and failure would let Trump proceed with new tariffs on a wide range of Canadian goods.