Canada and US trade deal nearly finalized
Canada and the United States are working towards a trade agreement that would bring them closer and aim to reduce customs duties and countervailing tariffs. The Canadian official added that significant progress has been made, but more work is needed before the agreement can be finalized. This effort comes amid ongoing attempts to end months of trade tensions, with a deadline approaching when Washington plans to impose tariffs on Canadian goods worth approximately $20 billion. The agreement is expected to include a reduction of tariffs on vehicles from 25% to 15%, as well as a halving of tariffs on steel and aluminum, before the last three-day window granted by President Trump to complete negotiations. Both parties are seeking to reach an agreement before the new tariffs are implemented, which would also affect goods that have benefited from preferential treatment.
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