Canada could drop certain tariffs against US - Carney
Mark Carney (photo: Getty Images)
Canadian Prime Minister Mark Carney stated that his country will consider lifting some corresponding tariffs on the US, according to Bloomberg.
Carney explained that these tariffs should be designed to maximize their impact on the US while minimizing damage to Canadian companies.
He added that when America changes its tariffs, Canada does not automatically adjust. Instead, the country assesses what actions would be most effective for its industries.
“In some cases, that will be to remove tariffs. We have removed some tariffs over time so that, for example, the auto industry can function more effectively. And we’ll look at opportunities to do so,” Carney said.
Bloomberg notes that Carney made these remarks despite his election victory, during which he promised to push back against US President Donald Trump’s trade war.
The comments also highlight the prime minister’s position: aiming to minimize economic damage while maintaining a firm stance against Trump.
Trump’s tariffs
In early April, US President Donald Trump announced large-scale tariffs on America’s trading partners.
Shortly after, he announced a 90-day pause to negotiate trade deals that would allow for lower tariffs. During this pause, a baseline 10% tariff on imports applied to all countries.
During this period, the US concluded several agreements. However, on the night of August 1, the White House published an updated tariff list targeting countries without agreements. The tariffs were lower than initially planned.
Trump signed an order increasing tariffs on Canadian goods from 25% to 35%. Carney expressed deep disappointment in response.
