- 50% retaliatory tariffs were initially set to kick in Wednesday, but Trump postponed them in an eleventh-hour Truth Social post.
- High-level trade talks are underway in Washington with less than 24 hours to reach a deal and avoid U.S. President Donald Trump’s new tariffs.
- LeBlanc and Greer met for more than three hours Thursday, with LeBlanc stating they are 'very close' to an agreement.
- Premiers agreed to return U.S. alcohol to shelves as part of the tentative deal.
- A midnight deadline looms as negotiators hammer out details, including a steel quota with a lower 25% tariff.
- The Canadian side has remained tight-lipped about the details of the accord, but reductions in American aluminum, steel, and auto tariffs are expected.
- LeBlanc described the meeting as 'long' and 'detailed', indicating ongoing progress in negotiations.
As the clock ticks down to a midnight deadline, Canada and the U.S. are engaged in high-stakes trade negotiations aimed at finalizing a deal that could prevent the imposition of new tariffs on Canadian goods.5
Negotiators have less than 24 hours to reach an agreement that would avert U.S. President Donald Trump’s proposed 50% tariffs on various Canadian products, including hockey sticks and wine.
Canada-U.S. Trade Minister Dominic LeBlanc indicated that discussions are progressing, stating, “We continue to make progress, and we’re going to stay here and do the work that’s necessary until we get to that point.”
Sources suggest that the deal may include reductions in American tariffs on aluminum, steel, and auto imports, although uncertainties remain regarding lumber and agricultural products.
Newfoundland and Labrador Premier Tony Wakeham confirmed that Canada’s premiers have agreed to lift bans on U.S. alcohol as part of the tentative trade agreement, emphasizing a spirit of cooperation.
Critics, including Conservative leader Pierre Poilievre, have voiced concerns over potential concessions, arguing that reduced tariffs on steel and aluminum would be detrimental to Canadian industry. “One-sided tariffs on Canadian industry would be a bad deal,” he stated.
As negotiations continue, the outcome remains uncertain, with both sides under pressure to finalize terms that will satisfy their respective interests and avoid economic fallout.
“Negotiators have less than 24 hours to avoid Trump's new 50% tariffs, which were postponed from Wednesday. LeBlanc said they are 'very close' after a three-hour meeting, but questions linger on lumber and agriculture, and premiers agreed to lift booze bans as a sign of good faith.”
