Sunita Somvanshi
Canada is racing against time to avert US tariffs of 50 percent set to take effect at midnight. Canadian and US negotiators met ahead of the deadline, but no deal has been reached.
Prime Minister Carney spoke with Trump, calling the negotiations “very intense and delicate.” The Trump administration has signaled it is “not looking to renew” the North American trade deal, according to CTV News.
Top economists warn that the tariffs would significantly impact Canadian businesses and consumers. Some businesses report feeling the pain even before the tariffs take effect, with owners fearing sales could drop by half.
The tariff deadline creates pressure on Canadian policymakers. Retaliatory tariffs could escalate the situation, with former advisors warning that dropping countermeasures might lead to worse outcomes.
The outcome of these negotiations will shape Canada-US trade relations and affect supply chains across North America.
