Canada and US say they are finalising a trade deal, but details remain murky
Canada has been in pursuit of a deal that would have the US drop or reduce tariffs on its steel, aluminium, automobiles and lumber. Under a deal that could be completed by Friday evening, US tariffs on Canadian steel and aluminum would reportedly be cut to 25% from 50%.
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Key Facts
- Fact 1: Under a deal that could be completed by Friday evening, US tariffs on Canadian steel and aluminum would reportedly be cut to 25% from 50%.
- Fact 2: The US may also lower its headline tariff rate on Canadian-made vehicles from 25% to 15%, according to reports from US and Canadian media.
- Fact 3: The US wine and spirits industry says they have seen exports to Canada drop by more than 70% since the boycott went into effect early last year.
- Fact 4: Polls suggest that a majority of Canadians would be unhappy if the Carney government made significant concessions to the US, with 56% surveyed by polling firm Leger saying they wanted Canada to take a hardline approach.
Canada has been in pursuit of a deal that would have the US drop or reduce tariffs on its steel, aluminium, automobiles and lumber. Under a deal that could be completed by Friday evening, US tariffs on Canadian steel and aluminum would reportedly be cut to 25% from 50%.
The US may also lower its headline tariff rate on Canadian-made vehicles from 25% to 15%, according to reports from US and Canadian media. The prime minister met his cabinet and leaders of Canadian provinces on Wednesday afternoon to brief them. Following Carney's meeting, Nova Scotia Premier Tim Houston said the prime minister asked provinces to return US alcohol to Canadian markets.
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Original source: BBC News World
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