Via cfr.org
US, Canada trade teams race to reach deal before threatened 50% tariffs
Negotiators are meeting for a third day as President Trump threatens new duties on about $20 billion of Canadian goods
Top trade negotiators from Canada and the United States met in Washington for a third day Friday as they tried to finalize a deal before threatened new US tariffs take effect Saturday.
President Donald Trump said he would impose a 50% tariff on about $20 billion of Canadian goods at 12:01 a.m. EDT Saturday if no agreement is reached. The talks follow 18 months of tense relations and retaliatory measures.
Canadian Trade Minister Dominic LeBlanc met US Trade Representative Jamieson Greer for more than three hours Thursday and said the two sides were very close to a deal, although more work remained.
Sources said an agreement could reduce the tariff on Canadian-built vehicles to 15% from 25% and halve tariffs on Canadian steel and aluminum to 25%. Ontario wants the metals tariffs removed.
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Canada sends about 70% of its exports to the United States, leaving it vulnerable to punitive trade measures. A poll found that 56% of Canadians wanted Prime Minister Mark Carney to make no further concessions.