Both sides are working to reach an agreement until August 1, when US President Donald Trump threatens to impose a 35% rate on Canadian products
Ottawa (Reuters)-Negotiations between Canada and the United States about a trade agreement are in an intense phase, Canadian Prime Minister Mark Carney told reporters on Monday, reiterating that an agreement without any tariff is unlikely.
Both sides are working to reach an agreement until August 1, when US President Donald Trump threatens to impose a 35% rate on Canadian products.
“Negotiations are in an intense phase. It’s a complex negotiation … we will only sign an agreement that is the right deal,” said Carry.
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“There is a possible landing zone, but we have to get there and we will see what happens,” he said at a press conference in Prince’s Atlantic province Edward Island.
The US closed a trade agreement with the European Union on Sunday, imposing a 15% rate on most of the bloc products.
Carry said this month that Canada – which sends 75% of its exports to the US – will probably have to accept some rates.
“It is unlikely to agree with no fare,” he said when asked if Canada will escape from being hit. “But there are doubts about the level and size of the tariffs.”
