US, Canada hold last-minute talks to stop 50% U.S. tariffs
Summary
The United States and Canada are holding urgent talks to avoid new U.S. tariffs of 50% on $20 billion worth of Canadian goods. These tariffs, planned by President Donald Trump, have raised tensions between the two countries, but both sides want to find a solution before the tariffs take effect.Key Facts
- President Trump plans to impose a 50% tariff on $20 billion of Canadian products starting August 19, 2026.
- The tariffs cover various goods including hockey sticks and tongue depressors.
- The U.S. and Canada have a long history of trade disputes but remain close allies.
- Canadian Prime Minister Mark Carney said negotiations are ongoing but kept details private.
- Nearly 72% of Canadian exports go to the U.S., showing economic interdependence.
- The U.S. wants Canada to buy more American military equipment and give more access to critical minerals.
- Canada wants relief from existing U.S. tariffs on steel, aluminum, and softwood lumber.
- Trump has made tariffs a central part of his economic policy, aiming to reduce the U.S. trade deficit.
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