Transcript: Dominic LeBlanc, Canada's U.S. Trade Minister, on "Face the Nation with Margaret Brennan," Aug. 3, 2025

CBS News

4 days ago

The following is the transcript of an interview with Dominic LeBlanc, Canadian Minister for U.S.-Canada Trade, that aired on "Face the Nation with Margaret Brennan" on Aug. 3, 2025.
MARGARET BRENNAN: We go now to the Canadian Minister for U.S.-Canada trade, Dominic LeBlanc, who joins us this morning from Moncton, Canada. Good morning to you.
MIN. LEBLANC: Good morning, Ms. Brennan.
MARGARET BRENNAN: You were just here, in Washington, negotiating. And while the talks are officially continuing, you left town without a deal, and you left town with, now, what is a 35% tariff on goods. How much of a setback was the President's decision to do that while you are still at the table?
MIN. LEBLANC: So we were obviously—obviously disappointed by that decision. We believe there's a great deal of common ground between the United States and Canada in terms of building two strong economies that work well together. That's been the history of the 40-year Free Trade Agreement that goes back to President Reagan. We were pleased the United States is respecting the terms of the USMCA agreement. That's vital, we think, to the cost of living and affordability, certainly in the United States, it's true in Canada, as well. So, we're going to continue to do the work. We left, always, with a better understanding of the American concerns in the trading relationship. Ambassador Greer, Secretary Lutnick, engaged with us in constructive, cordial conversations. So we're prepared to stick around and do the work needed. We think, Ms. Brennan, that the economies of both countries are strengthened when we do things together, the trading relationship between Canada and the United States is unlike other partners. One description, without which I thought was very apt; we don't sell things to each other as much as we build things together. And that's why it's- it's difficult in this relationship when so much is integrated. But we remain very optimistic.
MARGARET BRENNAN: But, you heard Ambassador Greer say Canada—because Canada retaliated to the initial tariffs all the way back in April, when Prime Minister Trudeau was in office, you're paying the price now, even though you have a new government in place. If that's the issue, why not make that concession and pull back?
MIN. LEBLANC: So, Prime Minister Carney, our new prime minister, has, we think, built a very business-like, respectful relationship with President Trump. We think that's obviously very important to Canada, and we think to the United States. We're dealing with, take, for example, the steel sector in Canada. It's a strategic importance to national security in Canada, as it is for President Trump and the American economy. We now have a situation where there's a 50% tariff. We're the biggest steel export market for the United States. We have a 25% tariff. There's a 50% tariff when we want to sell something into the United States. So, effectively, we're blocked from doing that. But the national security interest of Canada requires that we have a viable steel and aluminum sector, and my conversations with Secretary Lutnick and others are that therein lies an example, where if we do the right work together, we have, Ms. Brennan, the toughest rules of any country dealing with Chinese dumping into Canada. We have melt and pour tracing, so that products coming from other countries with Chinese steel can't be dumped into the Canadian market. So, we're looking and advancing ideas where we can do that work with the United States, at the same time, ensuring that our economy continues to have sectors vital to the economic future of Canada. But, that's not in contradiction to President Trump's national security objectives in the United States, of course.
MARGARET BRENNAN: Well, I want to talk to you more about this idea of the so-called fortress North America to take on China, and some of the specifics of the dispute on the other side of this commercial break. Please stay with us. We'll have more questions for Minister LeBlanc shortly. We'll you see in a moment.
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MARGARET BRENNAN: Welcome back to Face the Nation. We return to our conversation with the Canadian Minister for US-Canada trade, Dominic LeBlanc. Minister, we were just talking about some of the sectoral tariffs, the metals. American automakers, GM, Ford, Stellantis, they have all said that these tariffs are hurting their profits. The 50% metal tariffs, which use Canadian aluminum, the Secretary of the Treasury was talking about those just the other day, they're seeing the impact here in the United States, a bit of a backfire in some ways. Do you see room for maneuver on these? Are they willing to negotiate with you on those tariffs?
MIN. LEBLANC: Ms. Brennan, we hope so. And, as I say, we're encouraged by the conversations with Secretary Lutnick and Ambassador Greer, but we're not yet where we need to go to get the deal that's in the best interest of the two economies. But your example is a good one. Canadian aluminum companies massively supply the American market. And by putting a 50% tariff on aluminum from Canada, you've increased the price of a whole series of goods. The automobile sector, again, is an example where there's been deep integration. We're the biggest customer of U.S. made automobiles. Heavily, heavily importing into Canada light and heavy-duty trucks. 50% of the cars that we finish in Canada and sell to the United States are made up of American parts. So, therein lies a perfect example where, instead of tariffing one another, or President Trump for his national security reasons, under his Section 232, tariffs, wants to have a strong domestic steel, aluminum automobile sector. Well, so does Canada. And we understand and respect totally the President's view in terms of the national security interest. In fact, we share it, and what we've said to our American counterparts is, how can we structure the right agreement, where we can both continue to supply one another in a reliable, cost-effective way that preserves jobs essential to the American economy, but the same thing is true, obviously in Canada as well.
MARGARET BRENNAN: Are there any plans for the two leaders to speak? I saw President Trump said your prime minister called him Thursday, and they just never connected. I mean, are tensions that high? And given the changing justification for the tariffs, do you really feel like you're negotiating with the other side in good faith?
MIN. LEBLANC: Sure, we do. Of course we do. As I say, the conversations have been informative, constructive, and cordial. I would expect the Prime Minister will have a conversation with the President over the next number of days. That's certainly my plan, again with Secretary Lutnick, recognizing that we think there is an option of striking a deal that will bring down some of these tariffs, provide greater certainty to investment. We, Ms. Brennan, we passed, in Canada, our version of the President's One Big, Beautiful Bill. It's called the One Canadian Economy Act, which we think will unlock up to $500 billion of investment in Canada for things like pipelines, port infrastructure, mines, all of which offer huge opportunities to American businesses as well. So, we think there's a great deal- a great deal to work on together.
MARGARET BRENNAN: All right, Minister, we'll see if you can get one. We'll be right back.