Trump says Carney reached out, but they haven't talked, hours before Canada-U.S. tariff deadline
U.S. President Donald Trump said on Wednesday that Prime Minister Mark Carney reached out ahead of an Aug. 1 tariff deadline, but no conversations between the two took place.
Trump has warned that any country that does not strike a deal with the U.S. before Friday will be subjected to higher tariffs imposed on goods, which for Canada could mean a 35 per cent rate on all products not covered by the U.S.-Mexico-Canada trade agreement.
'We haven't spoken to Canada today. He's (Carney) called and we'll, we'll see,' Trump told reporters during an event at the White House.
Carney's office did not immediately respond to a request for comment.
The Canadian leader previously said trade talks with Washington had been constructive, but the talks may not conclude by the deadline. Talks between the two countries were at an intense phase, he added, but a deal that would remove all U.S. tariffs was unlikely.
Earlier on Thursday, Trump said it would be 'very hard' for the U.S. and Canada to strike a deal after Ottawa moved toward recognizing Palestinian statehood. He said later on Thursday, however, that he did not view the move as 'a deal breaker' in trade talks.
'Well, they have to pay a fair rate - that's all. It's very simple. They have been charging very, very high tariffs to our farmers, some over 200 per cent and they've been treating our farmers very badly,' Trump said when asked about negotiations.
He added that while he loves Canada, it has treated the United States 'very badly' for years.
U.S. Commerce Secretary Howard Lutnick said Canada could avoid the 35 per cent tariff rate if Carney 'starts turning on the charm and if he takes off his retaliation.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Sun
17 minutes ago
- Toronto Sun
LeBlanc says he expects Carney, Trump will speak in the coming days
Published Aug 03, 2025 • 1 minute read US President Donald Trump speaks to the press as Canadian Prime Minister Mark Carney looks on as they meet during the Group of Seven (G7) Summit at the Pomeroy Kananaskis Mountain Lodge in Kananaskis, Alberta, Canada on June 16, 2025. Photo by BRENDAN SMIALOWSKI / AFP via Getty Images OTTAWA — Dominic LeBlanc says he expects Prime Minister Mark Carney and U.S. President Donald Trump will speak 'over the next number of days' as the United States ratchets up pressure in trade talks. 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 The Canada-U.S. trade minister appeared on CBS's 'Face the Nation' on Sunday and spoke about where talks stand between the two countries. LeBlanc told host Margaret Brennan that while Canada is 'disappointed' with Trump's new 35-per-cent tariffs, he is continuing to work toward a deal that would hopefully strike down trade restrictions between the nations. LeBlanc was in Washington last week attempting to find common ground with the Trump administration ahead of Friday's deadline to secure a new deal between the trading partners. While Mexico was granted a 90-day delay on new duties, Trump on Friday hit Canada with a 35-per-cent tariff on all goods that are not compliant with the Canada-U.S.-Mexico Agreement on trade. Canada also continues to face U.S. tariffs on steel, aluminum and automobiles as well as Trump's new 50-per-cent tariffs on semi-finished copper products. Toronto Blue Jays Columnists Sex Files Homes Columnists
Globe and Mail
36 minutes ago
- Globe and Mail
Amazon's Earnings: What Comes Next and How to Play It
Shares of tech giant Inc. (NASDAQ: AMZN) finished Thursday's session up nearly 2%, only to tumble more than 6% in after-hours trading following the company's Q2 earnings release. This sharp reversal underlines just how high expectations had gotten after the 40% rally from April's low. The stock's multi-month move meant anything less than a near-perfect report risked triggering a wave of profit-taking, and that appears to be exactly what's happening already. As we'll see below, however, this is also creating a couple of interesting plays for investors to consider depending on their belief in Amazon's potential over the long run, and their near-term appetite for risk. Let's jump in and take a look. The Report Looked Good, But It Had to Be Great At first glance, Amazon seemed to deliver. The company's earnings per share came in more than 25% above expectations, while revenue was up 13.3% year-over-year. Both metrics landed hot and were well above analyst expectations, adding to Amazon's impressive track record of delivering strong headline numbers quarter on quarter. But investors weren't satisfied based on the after-hours price action. As anticipated earlier in the week, any sign of weakness in last night's report could send the bulls running and the bears raging. And Amazon's weaker-than-expected guidance for operating income and some free cash flow concerns seem to have done just that. The range shared by management on the former was notably conservative, while the latter figure is now at its lowest in two years. In that context, it's perhaps not all that hard to see what investor sentiment would swing from risk-on to risk-off so quickly. It remains to be seen how long this switch will last, but in our view, there's little to be worried about regarding Amazon's long-term potential. What the Market Might Be Missing While the overnight sell-off might feel sharp, it's also arguably overdone. This was still an impressive report for Amazon, with revenue growth accelerating across the board and profitability improving at the same time. Overall growth remains strong despite ongoing infrastructure investments and competitive pricing pressures. The bears will point to growing concerns around the company's ability to stay in the lead group of the artificial intelligence (AI) arms race, but CEO Andy Jassy was not overly concerned. He spoke about this on the post-earnings conference call, saying, "I don't believe that we will have fully resolved the capacity we need for the amount of demand that we have in a couple of quarters. I think it will take several quarters, but I do expect that it's going to get better each quarter". Taken in total, there's a strong case to be made that Amazon is still in the early innings of its next growth phase, and Thursday's after-hours drop is more about positioning than fundamentals. 2 Ways to Play It For those of us on the sidelines, what kind of plays should we be looking for? Option one might be to sit back and let the correction play out. A move down to around the $220 level would take the stock back to a key area of support, and, given how one-directional the recent rally has been, would actually be quite healthy. If that $220 level were to hold, and or if we were to see a fresh bullish crossover in the MACD, it would likely mark the start of the next leg higher. Waiting for confirmation here gives you better risk/reward and protects against a deeper pullback. The other option is to start accumulating right away. This argument rests on the idea that Amazon's core thesis remains intact and the bears' concerns are already, or at least close to being, priced in after last night's drop. For big-time believers and long-term investors, this dip could be a gift - especially considering the company's strength across multiple verticals and its growing strength in high-margin, AI-driven businesses. Remember, multiple firms have been reiterating their Buy and Overweight ratings all through 2025, and even as recently as this week. The most recent price target from the team over at UBS Group sees the stock trading north of $270, a move that points to additional upside of around 15% from current levels. Don't expect their bullishness, and that of their peers, to change anytime soon. Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list. They believe these five stocks are the five best companies for investors to buy now...
Toronto Star
an hour ago
- Toronto Star
LeBlanc says he expects Carney, Trump will speak in the coming days
OTTAWA - Dominic LeBlanc says he expects Prime Minister Mark Carney and U.S. President Donald Trump will speak 'over the next number of days' as the United States ratchets up pressure in trade talks. The Canada-U.S. trade minister appeared on CBS's 'Face the Nation' on Sunday and spoke about where talks stand between the two countries.
