Reuters. Canadian Prime Minister Mark Carney on Tuesday (September 15) said Canada and the United States will reach a trade agreement, but only “when it’s the right time,” emphasizing that Ottawa is prepared to return to negotiations if a deal respects Canadian economic interests.
Carney, speaking at an investment summit in Toronto added "there is a mutually beneficial arrangement that can be had, and when it's the right time to strike that deal, we will be ready to do that."
Canada's retaliatory tariffs on U.S. goods recently took effect as Carney increased economic pressure on his country's biggest trading partner after negotiations collapsed last month, intensifying an 18-month-old trade war.
The counter-tariffs cover $20 billion of U.S. goods, with duties ranging from 15% to 50% across products from steel and furniture to clothing and electronics.
The dollar-for-dollar retaliation marks an escalation in the dispute between the neighboring countries, and U.S. and Canadian officials have traded blame for scuttling a deal that seemed close to fruition two weeks ago. The rising tensions create uncertainty about the broader U.S.-Mexico-Canada free trade agreement, which is up for annual reviews after U.S. President Donald Trump declined to extend it for another decade.
