Carney concedes U.S. trade deal may not happen before Aug. 1 deadline
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Carney was meeting with his cabinet on Wednesday to discuss the state of trade negotiations. U.S. President Donald Trump has said he would increase tariffs to 35 per cent on Canadian goods if both sides can't get to a deal by the Friday deadline.
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'As you know, we're seeking the best deal for Canadians. We have not yet reached that deal. Negotiations will continue until we do,' the prime minister told reporters during a press conference after the cabinet meeting.
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Most of the goods crossing the border are protected by the Canada-U.S.-Mexico free trade agreement (CUSMA).
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But Trump has slapped tariffs on a number of goods entering the U.S. that aren't covered, most notably steel and aluminum, which are subject to 50 per cent levies. Softwood lumber is also subject to 21 per cent tariffs. And on Wednesday, Trump signed a proclamation for 50 per cent tariffs for all copper products starting Aug. 1.
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Brian Clow, who served as former prime minister Justin Trudeau's deputy chief of staff and his executive director of Canada-U.S. relations, is predicting both sides will likely not be able to come to a deal by Friday given the long list of 'unresolved issues' at the moment.
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Clow said the Canadian side should be prepared to 'walk away if the Trump team is demanding too much' and is the view Canadian public opinion will be on their side.
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'I think (Carney) will be judged on the deal he gets, not necessarily how quickly we get a deal,' he said. 'And I think Canadians actually will give this prime minister a lot of space to take his time if there's not a good deal on the table.'
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Minister for Canada-U.S. Trade Dominic LeBlanc and Carney's chief of staff Marc-André Blanchard are currently in Washington D.C. in hopes of coming to an agreement. Carney said LeBlanc and senior officials will remain in the U.S. capital 'in pursuit of that goal.'
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Meanwhile, Trump's list of demands and grievances has been evolving.
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A U.S. source close to the negotiations, who only spoke on condition of anonymity, said Trump wants Canada 'to pay its fair share for the Golden Dome' — a missile defence system that could take decades to build and could cost tens of billions of dollars to participate in.
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