The United States and Canada are negotiating a trade deal to reduce tariffs on Canadian steel and aluminum from 50% to 25%. These tariffs doubled by June 2025 from the initial 25% rate imposed in March 2025. Ottawa responded with 25% retaliatory tariffs on US steel and aluminum imports, in force until 2026 and 2027. Negotiations center on tariff-rate quotas involving volume commitments or other concessions in exchange for reduced tariff access. Prime Minister Mark Carney advocates for a comprehensive deal covering steel, aluminum, autos, and lumber, with a deadline set for August 19, 2026.
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