Canada drops many of its retaliatory tariffs on the U.S.
The post Canada drops many of its retaliatory tariffs on the U.S. appeared on BitcoinEthereumNews.com. Canada’s Prime Minister Mark Carney speaks at a press conference about recognizing Palestinian statehood, in Ottawa, Ontario, Canada, July 30, 2025. Patrick Doyle | Reuters Canada removed many of its retaliatory tariffs on the U.S. on Friday, marking a significant step forward in the two countries’ relationship. Canada in March imposed counter-tariffs of 25% on a long list of U.S. products that fall in line with the North American trade deal after the U.S. had announced 25% duties on steel and aluminum. Notably, Canada’s 25% tariffs on U.S. autos, steel and aluminum will remain in place for now, Canadian Prime Minister Mark Carney said in a press conference Friday. The change will go into effect on Sept. 1, Carney added, saying he believes Canada has the best trade deal out of all of the countries working with the U.S. “As we work intensively with the United States, our focus is squarely on the strategic sectors,” Carney said. A White House official told NBC News that Canada’s move was “long overdue.” “We look forward to continuing our discussions with Canada on the Administration’s trade and national security concerns,” the official said. Friday’s announcement follows a phone call between Carney and President Donald Trump, the first known call between the two since failed talks before the Aug. 1 tariff deadline. A readout of the Thursday call from Carney’s office called the conversation “productive and wide-ranging,” with both leaders agreeing to reconvene soon. Carney said Friday that Trump assured him that dropping retaliatory tariffs will kickstart negotiations between the two countries. The move comes as the U.S.-Mexico-Canada Agreement, which Trump negotiated during his first term, is scheduled to undergo a review later this year. Canada was swift to impose its counter-tariffs on the U.S. on CA$30 billion (US$21.7 billion) worth of U.S. goods…
The post Canada drops many of its retaliatory tariffs on the U.S. appeared on BitcoinEthereumNews.com.
Canada’s Prime Minister Mark Carney speaks at a press conference about recognizing Palestinian statehood, in Ottawa, Ontario, Canada, July 30, 2025. Patrick Doyle | Reuters Canada removed many of its retaliatory tariffs on the U.S. on Friday, marking a significant step forward in the two countries’ relationship. Canada in March imposed counter-tariffs of 25% on a long list of U.S. products that fall in line with the North American trade deal after the U.S. had announced 25% duties on steel and aluminum. Notably, Canada’s 25% tariffs on U.S. autos, steel and aluminum will remain in place for now, Canadian Prime Minister Mark Carney said in a press conference Friday. The change will go into effect on Sept. 1, Carney added, saying he believes Canada has the best trade deal out of all of the countries working with the U.S. “As we work intensively with the United States, our focus is squarely on the strategic sectors,” Carney said. A White House official told NBC News that Canada’s move was “long overdue.” “We look forward to continuing our discussions with Canada on the Administration’s trade and national security concerns,” the official said. Friday’s announcement follows a phone call between Carney and President Donald Trump, the first known call between the two since failed talks before the Aug. 1 tariff deadline. A readout of the Thursday call from Carney’s office called the conversation “productive and wide-ranging,” with both leaders agreeing to reconvene soon. Carney said Friday that Trump assured him that dropping retaliatory tariffs will kickstart negotiations between the two countries. The move comes as the U.S.-Mexico-Canada Agreement, which Trump negotiated during his first term, is scheduled to undergo a review later this year. Canada was swift to impose its counter-tariffs on the U.S. on CA$30 billion (US$21.7 billion) worth of U.S. goods…
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