Canada is making progress in trade negotiations with the United States, as Canadian companies are adjusting their strategies to reduce dependence on American trade, according to Industry Minister Mélanie Joly. Following Prime Minister Mark Carney’s recent meeting with President Donald Trump in Washington, Joly expressed optimism about the discussions during an interview on the program Rosemary Barton Live.
Joly emphasized the importance of the respectful dialogue and positive tone observed between the prime minister and the president. She highlighted the significance of direct communication with Trump, acknowledging him as the ultimate decision-maker in trade deals. While no final agreement has been reached yet, Joly confirmed that negotiations are moving in the right direction.
Canada is actively seeking a tariff agreement with the U.S., with ongoing discussions focusing on sectors such as steel, aluminum, energy, and potentially the automotive industry and forestry. Carney indicated that progress is being made towards a deal that would benefit Canada. Joly reiterated the government’s commitment to protecting jobs in the auto sector and diversifying trade markets, citing the example of companies redirecting exports to Europe to reduce reliance on American trade.
Meanwhile, Algoma Steel CEO Michael Garcia discussed the challenges faced due to the 50% tariff imposed by Trump, which has limited access to the U.S. market. Garcia expressed the hope for a reduced tariff to facilitate Canadian steel industry re-entry into the American market. He also highlighted opportunities within the Canadian market, particularly with the government’s “Buy Canadian” policy.
In New Brunswick, Premier Susan Holt revealed considerations for potential retaliatory measures following Trump’s announcement of additional tariffs on softwood lumber and finished wood products. The province is evaluating options to address the impact of these tariffs on the local economy. Holt emphasized the need for progress in trade negotiations to mitigate the adverse effects of the tariffs on New Brunswick’s economy.
The efforts to secure a favorable trade deal with the U.S. continue, with provinces like New Brunswick seeking resolutions to protect their industries and economies. The evolving trade landscape underscores the importance of strategic planning and diversification in navigating international trade dynamics.