Trump, Japan and Trade Deal
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As Ottawa chases a new trade and security deal with Washington, the prime minister and visiting lawmakers seemed to make headway on lumber and digital services taxes.
Commerce Secretary Howard Lutnick reminded us of an important but little-discussed part of trade negotiations with Canada and Mexico -- "virtually 75%" of trade between the U.S. and its two neighbors is "already tariff free" because of the USMCA agreement.
The spirits industry says the sales of American-made products dropped 66 per cent in March and April after several provinces pulled their goods from store shelves.
Doug Ford briefly put a 25% export tax on power exports to Michigan, Minnesota and New York in retaliation for Donald Trump’s trade war.
The country’s new prime minister, Mark Carney, has been called the “Trump whisperer,” and negotiations have been cordial and professional. But it’s been a wild ride.
Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry.
White House press secretary Karoline Leavitt said Canada has been "pretty difficult to deal with" with respect to negotiating a trade deal with the Trump administration.
“Rescinding the digital services tax will allow the negotiations of a new economic and security relationship with the United States to make vital progress and reinforce our work to create jobs and build prosperity for all Canadians,” Canadian Finance Minister François-Philippe Champagne said in a statement Sunday night.
Group of Seven leaders are meeting in Canada, with issues such as the Israel-Iran conflict and U.S. tariffs high on the agenda, while nations hope to avoid clashes with Trump.
President Donald Trump’s tariffs could have an unintended side effect: making homeownership even less affordable for many Americans.