US, Canada Scramble for Trade Deal Amid Tight Deadline
US and Canadian negotiators are racing against time to reach a trade deal before the midnight deadline on Wednesday, when new US tariffs will kick in. US President Donald Trump has threatened to impose 50% duties on various Canadian products, but he later delayed this move, citing progress in talks.
The proposed agreement aims to address key flashpoints, including relief from Trump's tariffs on autos, steel, and aluminum, which have battered Canada's economy and led to job losses. Details of the deal emerged after Prime Minister Mark Carney briefed provincial leaders.
While Ottawa wants tariffs removed entirely, Washington is willing to reduce them in certain areas, but not eliminate them completely. This development has increased the chances of a deal, with trade lawyer Ryan Majerus saying that 'both sides want an off-ramp here.'