US, Canada race to avert 50% tariffs on $20 billion in imports
What’s at stake: The duties would hit about 5% of Canadian imports as Ottawa seeks relief for steel, aluminum, autos and lumber.
U.S. and Canadian negotiators are in last-minute talks in Washington to prevent new 50% U.S. tariffs on roughly $20 billion in Canadian goods from taking effect at 12:01 a.m. Wednesday. Prime Minister Mark Carney called the negotiations “very intense and delicate” and declined to detail possible concessions. Washington is pressing Canada to drop retaliatory tariffs on U.S. autos, ease dairy import limits and restore U.S. alcohol sales blocked by most provinces. Ottawa wants the U.S. to reduce or remove tariffs that have hurt Canada’s steel, aluminum, auto and lumber industries. Nearly 72% of Canadian goods exports went to the United States last year, underscoring the economic stakes on both sides.