Canada’s Trade Minister Dominic LeBlanc expressed optimism on Thursday about the possibility of reaching a resolution on American tariffs before the review of the Canada-U.S.-Mexico Agreement (CUSMA) next year. LeBlanc mentioned ongoing discussions with U.S. officials to address the trade dispute separate from the CUSMA renegotiation process. He highlighted the importance of finding a solution on tariffs to benefit both economies.
While other countries like the European Union and the U.K. have agreed to across-the-board tariffs with the U.S., Canada stands firm on not accepting any deals with baseline tariffs. LeBlanc emphasized the impact of tariffs on American businesses, particularly in manufacturing, which rely on importing Canadian products like aluminum. He cited examples such as Quebec supplying a significant portion of the U.S.’s aluminum imports.
LeBlanc mentioned the pressure on U.S. manufacturers and importers facing cost overruns due to tariffs, urging for a resolution beneficial for both nations. He expressed confidence in the domestic pressure within the U.S. to facilitate a mutually beneficial agreement. Despite missing previous tariff deal deadlines, LeBlanc remains hopeful that ongoing discussions will lead to positive outcomes.
The escalating tariff measures by the Trump administration have intensified trade challenges between Canada and the U.S. LeBlanc acknowledged the complexities but remains positive about resolving these issues. He highlighted the importance of the tariff-free access for most Canadian goods into the U.S. under the CUSMA exemption, emphasizing the advantage it provides.
LeBlanc reaffirmed Canada’s commitment to supply management in the face of U.S. pressure, emphasizing its significance to Canada’s economic policies. He noted the focus on showcasing Canadian investments in the U.S. as a positive narrative to be emphasized in the future. Meanwhile, Conservative Leader Pierre Poilievre criticized the handling of U.S. trade negotiations, questioning the delays in achieving favorable outcomes.