Canada's trade talks with U.S. in 'intense phase' after European Union makes deal ahead of deadline
Most of the goods Canada sends to the U.S. are CUSMA-compliant and won't be affected by the 35 per cent duties. The Canadian economy is still being slammed by Trump's Section 232 tariffs on steel, aluminum and automobiles, and will be hit by copper tariffs the president has said will take effect by the week's end.
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So far, Trump's trade deals 'are really bad omens for Canada,' said William Pellerin, a trade lawyer and partner at the firm McMillan LLP.
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'(It shows) that the tariffs, particularly the sectoral tariffs, are stickier than we would have thought,' Pellerin said. 'If none of those countries were able to secure a drop in the sectoral tariffs, that is certainly bad news.'
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Those Section 232 duties are a key target for Canadian negotiators and Pellerin said it's unlikely any deal will be struck by Ottawa if they remain at their current levels.
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While there are similarities between the Canada-U.S. negotiations and those involving Europe, Carney said there are also many differences. While Europe is looking to end its reliance on Russian energy, Carney said Canada is a reliable supplier of energy to the United States.
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The prime minister said negotiations remain complex but 'there is a landing zone that's possible.'
'But we have to get there,' he said.
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The EU agreement also averts significant retaliatory duties from a major United States customer — meaning that if Canada can't reach a deal with Washington, it would be more isolated if it attempts to retaliate against the U.S.
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Canada and China have implemented retaliatory tariffs in response to Trump's trade war but, to allow talks to continue, Ottawa didn't move forward with additional duties.
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Ontario Premier Doug Ford said Monday he supports a dollar-for-dollar tariff response, particularly to Trump's treatment of Canada's steel and aluminum industry.
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'I'm confident with Prime Minister Carney, I know he's going to do his very best to get a deal,' Ford said. 'But I don't trust President Trump.'
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B.C. Premier David Eby said Canada is in a 'different position' than the European Union or Japan, given the deeply integrated nature of North American supply chains.
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'We are a reliable partner, we are a good partner, but we also won't get kicked around,' he said.
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Sands said Carney's recent move to limit imports of foreign steel into Canada will help shore up the domestic market during the tariff tumult while also avoiding the ire of the Trump administration.
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The prime minister recognizes you can engage in retaliation, Sands said, but 'it doesn't bring you much joy.' He said there are other actions, such as import quotas, that would better protect Canadian markets.
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