Little evidence to suggest a U.S. trade deal can be reached without tariffs: Carney
Prime Minister Mark Carney signaled an upcoming trade deal with the U.S. will "likely include some tariffs," as he prepares for intensified negotiations ahead of an Aug. 1 deadline. “We need to recognize that the commercial landscape globally has changed. It's changed in a fundamental manner,” Carney said, noting President Trump appears unwilling to strike tariff-free agreements. Industry Minister Melanie Joly said cabinet held “good and thorough” discussions on protecting Canadian interests after Trump threatened 35% tariffs on Canadian goods, particularly targeting aluminum, copper, and auto sectors. Meanwhile, Jean Simard of the Aluminum Association of Canada warned tariffs are already hurting both countries, calling the current market reaction “very destructive” and urging immediate support for the industry.
