Carney Says 30-Day Deal Clock Is Ticking

Canadian Prime Minister Mark Carney recently said the clock is ticking on a 30-day schedule for the U.S. to put a trade deal framework in place with Canada, with that deadline set at July 21^st.  Carney also said his government has a plan in place if that deadline is not met.  Carney recently announced that Canada would adjust counter-tariffs on steel and aluminum products to levels ‘consistent’ with the progress made during trade negotiations with the United States.

“President Trump and I agreed to pursue negotiations towards a deal within the coming 30 days," Carney noted.  "Canada will adjust its existing counter-tariffs on U.S. steel and aluminum products on July 21st, at the end of that 30-day period, to levels consistent with the progress that was made at that point on the broader trade arrangements with the United States. We will review our response as the negotiations progress.”

What Does Canada Want From The U.S.?

In addition to adjusting counter-tariffs, Canada will limit federal procurement policies to favor Canadian suppliers and ‘reliable trading partners’ by the end of this month, on June 30^th

“We will implement reciprocal procurement rules ensuring that only Canadian producers, and from trading partners that provide Canada with tariff-free reciprocal access through trade agreements, can compete for federal government procurement of steel and aluminum,” Carney added.

As well, the Canadian government will implement new, retroactive tariff quota rates, at 100% of 2024 levels, on imports of steel products from those countries that do not currently  have a free trade agreement in place with Canada.

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