[ad_1]
\n<\/p>\n
WASHINGTON \u2014 Prime Minister Mark Carney said on Wednesday that Canada\u2019s negotiations with the United States might not conclude by Donald Trump\u2019s Aug. 1 deadline as the president added new trade measures that could further hinder some Canadian businesses.<\/p>\n
Carney said talks have been complex, comprehensive and constructive. He also said they are ongoing and cover \u201ca broad variety of topics.\u201d<\/p>\n
\u201cThere are many areas for co-operation between Canada and the United States, including defence spending, security spending, investments, which is one of the reasons why we\u2019re having these broader discussions,\u201d Carney said at a news conference in Ottawa.<\/p>\n
Trump sent a letter to Carney threatening to impose 35 per cent tariffs if Canada doesn\u2019t make a trade deal by Friday. The White House has said those duties would not apply to goods compliant with the Canada-U.S.-Mexico Agreement on trade, better known as CUSMA.<\/p>\n
The Canadian economy is also being slammed by Trump\u2019s Section 232 tariffs on steel, aluminum and automobiles.<\/p>\n
Trump on Wednesday signed executive orders for 50 per cent tariffs on semi-finished copper products starting Friday. The president, however, didn\u2019t include imports of the refined metal in his order, leaving many in the Canadian copper industry feeling relieved.<\/p>\n
In a separate order, Trump suspended de minimis exemptions \u2014 which had allowed packages worth $800 or less to ship to the United States to avoid tariffs. As part of his reasoning for the change, Trump cited the flow of fentanyl into the United States.<\/p>\n
Canadian Federation of Independent Business President and CEO Dan Kelly said suspending the de minimis exemption \u201cis bad news for many Canadian small businesses.\u201d The federation\u2019s data shows about one-third of small Canadian exporters used the exemption to ship to U.S. consumers duty free, Kelly said in a post on social media.<\/p>\n
Pascal Chan, the vice president of strategic policy and supply chains at the Canadian Chamber of Commerce, said it adds \u201canother layer of uncertainty for Canadian businesses exporting to the U.S.,\u201d particularly small- and medium-sized businesses.\u00a0<\/p>\n
\u201cAny increase in compliance costs and delivery delays will only serve to compound the pressure on the cross-border supply chains that have long fuelled our shared economic prosperity,\u201d Chan said in a statement.<\/p>\n
The latest trade changes comes as countries around the world are set to face staggering tariffs when Trump\u2019s deadline to make deals passes.\u00a0<\/p>\n
Trump announced a deal with South Korea Wednesday which will see the country slapped with a 15 per cent tariff.\u00a0<\/p>\n
The president said South Korea \u201cwill give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President. In apost on social media Trump said South Korea will also \u201cpurchase $100 Billion Dollars of LNG, or other Energy products.\u201d<\/p>\n
In a separate post the president also said he \u201cconcluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves\u201d but Trump didn\u2019t provide details of a tariff rate.<\/p>\n
Frameworks of deals have previously been announced for the European Union, Japan, Vietnam, Indonesia, the Philippines and the United Kingdom \u2014 with all nations facing some level of baseline tariff.<\/p>\n
Not all the details of the deals are clear but Trump has said countries can \u201cbuy down\u201d the tariff rate and most agreements have come with announcements of billion-dollar investments.<\/p>\n
Trump on Wednesday also escalated his threats against Brazil \u2014 which will be hit a 50 per cent duty \u2014 \u00a0and India \u2014 which will face a 25 per cent tariff, plus an additional import tax because of India purchases Russian oil.<\/p>\n
Trump has been dismissive of conversations with Canada, saying it is not a priority for his administration. The president said Wednesday that America\u2019s northern neighbour is a high-tariff nation, misrepresenting Canadian duties for agriculture imports.<\/p>\n
\u201cThey\u2019ve been charging our farmers 200 per cent, 300 per cent, 400 per cent for years and nobody did anything about it,\u201d Trump told reporters.<\/p>\n
Carney met virtually with his cabinet earlier Wednesday for a meeting focused largely on the situation in the Middle East.\u00a0<\/p>\n
Carney said Canada is seeking the best deal for Canadians and that negotiations will continue until that is achieved. He said Dominic LeBlanc, the minister responsible for Canada-U.S. trade, will remain in Washington with senior officials \u201cin pursuit of that goal.\u201d<\/p>\n
\u00a92025 The Canadian Press<\/strong><\/p>\n<\/p><\/div>\n