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Trump says US may not reach trade deal with Canada | Trump says US may not reach trade deal with Canada |
(about 2 hours later) | |
Trump spoke about trade negotiations with Canada before departing to Scotland on Friday. | Trump spoke about trade negotiations with Canada before departing to Scotland on Friday. |
US President Donald Trump has said he does not expect to reach a trade deal with Canada, after he gave the country a deadline of 1 August to carve out an agreement. | US President Donald Trump has said he does not expect to reach a trade deal with Canada, after he gave the country a deadline of 1 August to carve out an agreement. |
"We haven't really had a lot of luck with Canada," Trump told reporters ahead of his trip to Scotland on Friday. "I think Canada could be one where there's just a tariff, not really a negotiation." | "We haven't really had a lot of luck with Canada," Trump told reporters ahead of his trip to Scotland on Friday. "I think Canada could be one where there's just a tariff, not really a negotiation." |
His remarks come after Canadian Prime Minister Mark Carney signalled earlier this week that Canada "will not accept a bad deal" and rush into an agreement. | His remarks come after Canadian Prime Minister Mark Carney signalled earlier this week that Canada "will not accept a bad deal" and rush into an agreement. |
Canada is among several countries given an August deadline by Trump as part of his global tariff strategy and push to renegotiate deals with US trade partners. | Canada is among several countries given an August deadline by Trump as part of his global tariff strategy and push to renegotiate deals with US trade partners. |
Trump has said that US importers buying in goods from Canada will face a 35% tax if no deal is reached before the 1 August deadline. | Trump has said that US importers buying in goods from Canada will face a 35% tax if no deal is reached before the 1 August deadline. |
But that levy will not apply to goods compliant under an existing North American free trade agreement between Canada, the US and Mexico. | But that levy will not apply to goods compliant under an existing North American free trade agreement between Canada, the US and Mexico. |
Trump has already imposed a blanket 25% tariff on imports of certain Canadian goods, as well as a 50% tariff on aluminium and steel imports and a 25% tariff on all cars and trucks not built in the US. | Trump has already imposed a blanket 25% tariff on imports of certain Canadian goods, as well as a 50% tariff on aluminium and steel imports and a 25% tariff on all cars and trucks not built in the US. |
The US president has argued that these will boost American manufacturing and protect jobs. | The US president has argued that these will boost American manufacturing and protect jobs. |
The move has disrupted the global economy, and prompted warnings from critics that products could become more expensive for US consumers. | The move has disrupted the global economy, and prompted warnings from critics that products could become more expensive for US consumers. |
Canada sells three-quarters of its products to the US and its auto industry is deeply intertwined with its southern neighbour - making the impact of tariffs even more significant. | Canada sells three-quarters of its products to the US and its auto industry is deeply intertwined with its southern neighbour - making the impact of tariffs even more significant. |
The two countries have been engaged in intense trade and security negotiations since Prime Minister Carney took office in May. | |
Last week, Trump told the BBC that he was positive a deal could be reached with Canada. "I think it's going to work out very well," he said of the ongoing negotiations during the 15 July interview. | |
But Canadian officials have recently downplayed the possibility of reaching a deal soon. | |
After a two-day visit to Washington, intergovernmental affairs minister Dominic LeBlanc told reporters on Thursday that negotiators "have a lot of work" in front of them. | After a two-day visit to Washington, intergovernmental affairs minister Dominic LeBlanc told reporters on Thursday that negotiators "have a lot of work" in front of them. |
He described the ongoing talks as "productive" and "cordial", but reiterated that Canada will take "the time necessary to get the best deal". | He described the ongoing talks as "productive" and "cordial", but reiterated that Canada will take "the time necessary to get the best deal". |
Trump has announced trade agreements with other countries in recent days, including Japan, which he said will face a lower tariff rate of 15% in exchange for a $550bn (£409bn) investment in the US. | Trump has announced trade agreements with other countries in recent days, including Japan, which he said will face a lower tariff rate of 15% in exchange for a $550bn (£409bn) investment in the US. |
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