Donald Trump's next target could be deal that shields most Canadian imports from tariffs, experts warn
While Trump raised the tariff on Canadian goods to 35 per cent in an executive order Thursday night, an exemption for goods which comply with the Canada-U.S.-Mexico Agreement (CUSMA) was maintained. The order was signed after Ottawa and Washington failed to reach an economic and security deal.
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Toronto Sun
7 minutes ago
- Toronto Sun
U.S. trade advisor says Trump tariff rates unlikely to change
US Trade Representative Jamieson Greer said tariff rates are 'pretty much set' Photo by Jim WATSON / AFP Washington (AFP) — New US tariff rates are 'pretty much set' with little immediate room for negotiation, Donald Trump's trade advisor said in remarks aired Sunday, also defending the president's politically driven levies against Brazil. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Trump, who has wielded tariffs as a tool of American economic might, has set tariff rates for dozens of economies including the European Union at between 10 and 41 percent come August 7, his new hard deadline for the duties. In a pre-taped interview broadcast Sunday on CBS's 'Face the Nation,' US Trade Representative Jamieson Greer said 'the coming days' are not likely to see changes in the tariff rates. 'A lot of these are set rates pursuant to deals. Some of these deals are announced, some are not, others depend on the level of the trade deficit or surplus we may have with the country,' Greer said. 'These tariff rates are pretty much set.' Undoubtedly some trade ministers 'want to talk more and see how they can work in a different way with the United States,' he added. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. But 'we're seeing truly the contours of the president's tariff plan right now with these rates.' Last Thursday, the former real estate developer announced hiked tariff rates on dozens of US trade partners. They will kick in on August 7 instead of August 1, which had previously been touted as a hard deadline. Among the countries facing steep new levies is Brazil. South America's largest economy is being hit with 50 percent tariffs on exports to the United States — albeit with significant exemptions for key products such as aircraft and orange juice. Trump has openly admitted he is punishing Brazil for prosecuting his political ally Jair Bolsonaro, the ex-president accused of plotting a coup in a bid to cling to power. The US president has described the case as a 'witch hunt.' This advertisement has not loaded yet, but your article continues below. Greer said it was not unusual for Trump to use tariff tools for geopolitical purposes. 'The president has seen in Brazil, like he's seen in other countries, a misuse of law, a misuse of democracy,' Greer told CBS. 'It is normal to use these tools for geopolitical issues.' Trump was 'elected to assess the foreign affairs situation… and take appropriate action,' he added. Meanwhile White House economic advisor Kevin Hassett said that while talks are expected to continue over the next week with some US trade partners, he concurred with Greer's tariffs assessment in that the bulk of the rates 'are more or less locked in.' Asked by the host of NBC's Sunday talk show 'Meet the Press with Kristen Welker' if Trump could change tariff rates should financial markets react negatively, Hassett said: 'I would rule it out, because these are the final deals.' Legal challenges have been filed against some of Trump's tariffs arguing he overstepped his authority. An appeals court panel on Thursday appeared skeptical of the government's arguments, though the case may be ultimately decided at the Supreme Court. Toronto Blue Jays Homes Columnists Sunshine Girls Toronto & GTA
CTV News
7 minutes ago
- CTV News
Ford vows to 4-lane final stretch of Hwy. 69
Progress being reported on four-laning the final 68-km stretch of Highway 69 between Sudbury and Toronto. There appears to be progress on four-laning the remaining stretch of Highway 69 between Sudbury and Toronto in Ontario. Currently, approximately 68 kilometres of the highway from Henvey Inlet First Nation to Nobel remains incomplete. At a news conference in Thunder Bay on Thursday, Premier Doug Ford was asked about expanding all of Highways 11 and 17, rather than focusing solely on areas near the Manitoba border. Ford expressed strong support for the idea. Doug Ford Ontario Premier Doug Ford speaks in Thunder Bay, Ont., on July 31, 2025. (File photo/CTV News) Ford backs northern highway upgrades 'We're spending $200 billion on infrastructure, spending a fortune on roads and highways –I think it's up to $35 billion – but I'm all in, and I want to make sure our highways are safe,' Ford told reporters. 'It's treacherous, especially not just here, but have you ever gone from Sudbury down to the city? Like that two-lane – that was like white-knuckled driving down there. If a transport is off by two inches, you're done.' The premier highlighted an agreement with three First Nations communities to secure land for the project. 'We've bought their piece of property, and so we're going to be twinning that. We've made that announcement, and my goal is to make sure our highways are safe,' he said. Northern winters highlight need for safety improvements Ford emphasized the dangers of northern Ontario winters, stating that those in urban centres may not fully grasp the challenges. 'My message to people in the city – you have no clue until you come up to the north and you drive in the winter,' he said. 'We drove all through the north during the election. Snow was coming down – we had a pretty heavy winter. It's terrifying.' He added that northern Ontario's harsh conditions are something one must experience firsthand to truly understand. Timeline still unclear While Ford confirmed that Northern Development Minister Greg Rickford has been pushing to complete the project, no start date for construction has been announced. Provincial officials say Ontario remains committed to improving highway safety, with further details expected in the coming months.
Vancouver Sun
an hour ago
- Vancouver Sun
U.S. trade frameworks create 'shifting landscape' as B.C. looks to cultivate LNG markets
At the same time Premier David Eby was touting B.C.'s potential to export liquefied natural gas to Asia, U.S. President Donald Trump was unveiling his county's trade framework agreement with South Korea, which included a commitment to purchase US$100 billion of American LNG. Tying energy to easing up on tariff threats has become a common theme in Trump's attempt to reorder the U.S. trading landscape, either with purchase commitments or contributions to American energy infrastructure, an element in a framework reached with Japan. Such agreements create a 'shifting landscape' for the LNG market that Canada will have to navigate with partners apparently willing to pay premiums for American energy in exchange for their 'strategic partnership' with the U.S., said University of B.C. trade economist Werner Antweiler. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Eby's Asia trade mission, mere weeks before the U.S. deals were announced, sought to cultivate B.C.'s trade relationship with both countries, and he left sounding assured about the province's potential. Eby spoke about meetings B.C. representatives had with LNG Canada's key partners: the Korean gas utility KOGAS, Mitsubishi in Japan and Malaysia's Petronas, where executives 'underlined how important it was to them that this project was able to be reliable.' However, Antweiler, chair in international trade policy at UBC's Sauder School of Business, noted that the U.S. is also willing to 'simply use their influence to bully trade partners into beneficial trade deals on energy. 'Some have called it a protection racket,' Antweiler said. 'Korea buys U.S. energy at a premium or preferentially, and in turn U.S. provides military protection, rather than for the U.S.'s own geostrategic benefit.' LNG's buyers — major utility firms — purchase fuel on long-term contracts and Antweiler said it is likely the South Korea deal will result in a 'reshuffling market share,' with new U.S. imports replacing its expiring contracts with Qatari LNG suppliers. 'Their overall demand for LNG is not increasing much and is down from a peak in 2021,' Antweiler said. In rough estimate, he estimated it could increase the U.S. share of South Korea's market to about one third from five per cent now. In the case of Japan, the notice from Trump's White House dated July 23, said the sides are 'exploring a new offtake agreement for Alaskan LNG,' with a proposal that is in its early stages, but which is vying for the same market share as B.C. 'Japan's commitment to Alaskan LNG may be looked at through the perspective of energy security too,' Antweiler said. Energy Minister Adrian Dix argued that the LNG projects in the works 'have real advantages over other projects, say the Alaska project, and everything else.' 'Obviously we only control what we control, the provincial and the federal government,' Dix said. However, he added that the provincial and federal governments are 'working closely' with LNG Canada related to the company's yet-to-be approved Phase 2. LNG Canada, a consortium of five partners including Shell, Malaysian state-owned Petronas, PetroChina, Mitsubishi Corp. and KOGAS, is contemplating a $30-billion addition to its Kitimat plant that would nearly double its capacity to 26 million tonnes of LNG per year from 14 million tonnes per year now. A spokesperson for LNG Canada said the company itself isn't involved in sales: its joint-venture partners determine where the product is delivered and sold. Dix, however, said 'we feel that our (LNG Canada Phase 2) is a really outstanding project and we're optimistic about it. But at the same time, it's not entirely our decision. It is a reason why you want to settle all the issues so that the sooner they move forward, the better it is for B.C. and for everybody.' Dix added that before now, B.C. didn't have the option of offshore exports for natural gas, the province's biggest export commodity, worth $16 billion in trade in 2024. And the U.S. trade deals underline the importance for B.C. to diversify. 'If you ask me, do I worry? I worry every day about everything,' Dix said. 'Because there's a lot at stake for B.C. and we've got to continue to meet our economic goals, we've got to continue to create more wealth and energy sovereignty.' Antweiler said Canada might need to turn to 'countries that are not constrained by trade deals with the United States.' 'It's all a matter of reshuffling trade directions, but in the end the LNG market is global,' he added. 'World supply and world demand must be clear, no matter what the U.S. does.' depenner@
