U.S. President Donald Trump has increased tariffs on Canada to a staggering 35 per cent.
However, the White House has said they won’t apply to goods that are compliant with the Canada-U.S.-Mexico Agreement on trade.
It’s estimated about 80 to 90 per cent of Canadian goods might be able to comply with CUSMA’s rules of origin.
Michael Barrett, MP for Leeds-Grenville-Thousand Islands and Rideau Lakes, shared his thoughts on Canada’s position in the high-stakes negotiations with the United States.
He added that a truly fair deal would involve removing the tariffs already in place.
Barrett also pointed out that while the August 1st deadline is drawing attention, the focus should be on the final agreement and not just the date.
The current trade tensions are having ripple effects across the globe, and a delay to the deadline is unlikely.
Canada continues to prepare for the tariffs by working to remove internal provincial trade barriers, and solidifying agreements with other trade partners.
The federal government’s negotiating team remains committed to coming to an agreement that is fair for Canada, even if it means missing the August 1st deadline. That school of thought has been backed by provincial leaders.
Story by Evan Gibb, Loreena Dickson