Commerce Secretary Howard Lutnick stated that the idea of U.S. free trade with Canada being dead is silly, noting that a significant portion of Canadian goods enter the U.S. tariff-free under the United States-Mexico-Canada Agreement (USMCA). He also indicated that tariffs on Canada will remain unless Canada is willing to open its markets. Prime Minister Mark Carney recognized the challenge of negotiating a deal without tariffs and suggested a need for stabilization. Recent data showed an increase in tariff-free U.S. imports from Canada, reflecting ongoing trade discussions.
Commerce Secretary Howard Lutnick emphasized that a large percentage of Canadian goods enter the U.S. tariff-free under the USMCA, stating that 75% of goods are tariff-free.
Lutnick remarked that tariffs on Canada will persist for the time being unless Canada opens its market, claiming that current trading terms are inequitable.
Prime Minister Mark Carney expressed skepticism about the U.S.'s willingness to negotiate a tariff-free deal with Canada, suggesting more stability is needed.
An RBC report noted that the percentage of U.S. imports from Canada that are duty-free has significantly increased from 79% in January to 89% in April.
Collection
[
|
...
]