Canada’s Trade Minister, Dominic LeBlanc, expressed optimism on Thursday regarding the possibility of reaching a resolution on American tariffs before the Canada-U.S.-Mexico Agreement (CUSMA) undergoes a review next year. LeBlanc informed the Senate’s foreign affairs and international trade committee that ongoing discussions with U.S. officials aim to resolve the trade dispute.
While domestic consultations have been initiated for CUSMA renewal, a separate agreement on tariffs is desired by Canada to avoid entanglement in the renegotiation process. LeBlanc emphasized the importance of progress before the formal review begins, although acknowledging uncertainties ahead.
Despite other countries reaching tariff deals with the U.S., Canada remains firm on not accepting a baseline tariff agreement. The looming deadline set for an agreement on tariffs by August was missed, leading to increased pressure on Canada with the imposition of tariffs on various sectors.
LeBlanc remains hopeful that trade issues can be resolved, albeit warning of potential challenges ahead. Highlighting Canada’s investments in the U.S., he anticipates an improved trade relationship despite the current complexities. Canada’s commitment to supply management in agriculture remains steadfast, rejecting any alterations that could compromise the system.
In contrast, criticisms have been raised by Conservative Leader Pierre Poilievre regarding delays in achieving a favorable outcome in U.S. trade negotiations. The focus shifts to showcasing Canadian investments in the U.S. as a positive narrative in the ongoing trade discussions.
Amidst the uncertainties, both countries continue their dialogue in navigating the complexities of the trade relationship.