Canadian Prime Minister Mark Carney said that his country is unlikely to reach an agreement with the United States in the near term to reduce tariffs on sectors such as steel and aluminum.
Carney explained that negotiations to lower tariffs on certain sectors will be integrated into talks over the United States–Mexico–Canada Agreement (USMCA), making a quick agreement unlikely.
He added that Canada is prepared to resume trade talks on lumber products, after former U.S. President Donald Trump imposed tariffs of around 45% on Canadian lumber imports, a move that drew criticism from U.S. construction companies.
It is worth noting that President Trump suspended trade talks with Canada last October following a dispute over television broadcasts in Ontario that quoted statements by former U.S. President Ronald Reagan opposing tariffs.
