All articles tagged with #us canada trade
The US has outlined key demands to Canada to maintain free trade, including opening Canadian dairy markets, revising Canadian streaming laws perceived as discriminatory, reinstating US liquor sales in Canada, and resolving electricity disputes with Montana, amidst ongoing US-Canada trade negotiations.
Ontario Premier Doug Ford defended airing an anti-tariff ad featuring Reagan's speech, which angered US President Trump and temporarily halted Canada-US trade talks. The ad aimed to highlight the dangers of tariffs, and Canada is actively diversifying its trade partners in Asia to reduce reliance on the US, amid ongoing trade tensions and tariffs.
Higher tariffs on Canadian lumber aim to boost US domestic forestry, but long-term investment is hindered by species differences, higher costs, and cyclical housing demand, making tariffs alone insufficient for sustainable growth in US timber industry.
Canada plans to remove retaliatory tariffs on many US products that comply with the US-Mexico-Canada Agreement to ease trade tensions, while maintaining tariffs on steel, aluminum, and automobiles, as part of a shift towards aligning more closely with US measures and preparing for USMCA review.
Donald Trump has threatened to complicate US-Canada trade negotiations after Canada announced plans to recognize a Palestinian state, with Trump accusing such recognition of rewarding Hamas and stating it would make trade deals 'very hard.' The situation is part of broader international debates over Palestinian statehood and regional conflicts, with various countries considering recognition amid ongoing tensions in Gaza.
President Trump's initial trade war victories, marked by increased tariffs and trade agreements, face mounting challenges as key allies like the EU and Canada express dissatisfaction, and legal and economic pressures threaten to undermine the gains, with signs of rising inflation and ongoing trade tensions.
Canada has paused its new tariff threats amid ongoing trade negotiations with the US, with both sides threatening to escalate duties if a deal isn't reached by the new deadline of July 21. The US has indicated it may impose a 35% tariff on Canadian goods not complying with the USMCA, while Canada maintains its current tariffs on US steel and aluminum. High-level discussions continue, with Canadian officials remaining confident about reaching an agreement.
The stock market opened higher following Canada's withdrawal of a proposed digital services tax on the U.S., with major indexes like the Dow Jones, S&P 500, and Nasdaq gaining. Key movers included Robinhood and Palantir, which announced a new AI partnership, while Tesla's shares declined ahead of upcoming delivery data. The week also features a crucial jobs report and ongoing trade negotiations between the U.S. and Canada.
Canada has rescinded its digital services tax to facilitate renewed trade negotiations with the U.S., which were previously halted by President Trump in response to the tax on American tech firms like Amazon, Google, and Meta. The move aims to support a comprehensive trade agreement and is part of ongoing efforts to strengthen economic and security ties between the two countries.
President Donald Trump announced the immediate termination of US trade talks with Canada in response to Canada's digital services tax on technology companies, describing it as a direct attack on the US and stating tariffs will be imposed within a week.