Canada-U.S. Trade Talks May Miss Aug. 1 Deadline Amid Tariff Threats

U.S. President Donald Trump set an August 1 deadline for Canada to finalize a trade deal, threatening to impose tariffs as high as 35% on goods not covered by the U.S.-Mexico-Canada Agreement (CUSMA), including new 50% tariffs on copper products. Canadian Prime Minister Mark Carney acknowledged that talks might not conclude by the deadline, emphasizing the complexity and broad scope of negotiations that include trade, security, and investment issues. Trump cited unfair treatment of U.S. farmers and high Canadian tariffs as reasons for his tough stance, while Canadian officials expressed willingness to continue talks but prepared to walk away if demands are excessive. The suspended de minimis exemption for small-value shipments and additional tariffs have raised concerns among Canadian small businesses and exporters. Despite stalled negotiations and ongoing tariffs on steel, aluminum, and automobiles, Carney stressed the need to secure the best possible deal for Canada and highlighted potential cooperation on continental security even without an immediate agreement. Political observers suggest Canada should prioritize quality of the deal over speed, anticipating that Canadian public opinion would support a firm stance against excessive U.S. demands.