Business · Trade · 5 hrs ago

Carney says Canada and US are making progress on trade deal

Carney says Canada and US are making progress on trade deal

Canada and the United States are making progress toward a trade deal, Prime Minister Mark Carney said after speaking with President Donald Trump and senior US officials.

The talks resumed after negotiations collapsed in August, when Canada rejected US demands and suspended discussions.

US tariffs have put pressure on Canadian businesses, including the auto industry, which depends heavily on access to the US market.

Carney said Canada will not accept terms that make Canadian auto production unviable.

The two governments are discussing possible tariff reductions for autos, steel and aluminum, but Carney said they are not yet close to a final deal.

The North American auto industry also faces the challenge of adapting to rapid change and the shift to electric vehicles.

Further negotiations will determine whether the countries can reach an agreement that reduces tariffs while protecting Canada's auto sector.

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What people are saying

Mark CarneyCanadian prime minister
We are making progress. There is the possibility of a deal, a bilateral deal. But we’re not yet there.
via AP
This government will not settle for a deal with the United States that does not is not consistent with a viable Canadian auto sector.
via Globe and Mail
This is one of the most challenging issues in negotiations.
via Globe and Mail