Business

03.08.2025

Canada-U.S. Tariff Talks Show Progress

Dominique LeBlanc, the Canadian Minister of Commerce responsible for trade relations, expressed optimism during his appearance on the program ‘Face the Nation’ on a Western channel, noting that recent talks with the American side were ‘encouraging.’ LeBlanc added that reaching an agreement to ease tariffs remains an option. LeBlanc explained that discussions with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jameson Greer showed progress, but he emphasized that ‘the road is still long’ to reach an agreement that serves the economic interests of both countries.

U.S. President Donald Trump announced at the beginning of last month that the United States would impose a 35 percent tariff on goods imported from Canada, starting next month. He also plans to impose a comprehensive tariff of 15 or 20 percent on most of his country’s other trading partners. In a message published by Trump on the ‘Truth Social’ platform he owns, the U.S. president informed Canadian Prime Minister Mark Carney that ‘the new tariff rate will go into effect on the first of August and will increase if Canada responds.’

In the interview, he said: ‘It’s not necessary for everyone to receive a message… We will say that all remaining countries will pay 20 or 15 percent. We will decide that now.’ Trump expanded the scope in recent days and set new tariffs on a number of countries, including Japan and South Korea, allies of his country, along with a 50 percent tariff on copper.