Arya News - Canadian Prime Minister Mark Carney has opted not to double steel and aluminum tariffs on the United States following US President Donald Trump`s tariff letter in hope to negotiate a better trade deal before August 1, Politico reported, citing two senior government officials.
Canada planned to increase its tariff on American steel and aluminum from 25% to 50% on July 21. However, Carney reevaluated his position against Trump and chose to delay retaliatory measures after both sides agreed to extend the negotiation deadline for a new economic and security deal to August 1, the report said on Friday. Meanwhile, both Washington and Canada are prepared to raise their tariffs if the trade talks do not yield results before August 1, the report added. Earlier this week, US President Donald Trump announced a 35% tariff on Canadian products starting August 1, while also confirming that previously imposed sectoral tariffs would stay in effect. He later mentioned that Ottawa had "contacted him" regarding the matter. Since March, Canadian goods that are not compliant with the United States-Mexico-Canada Agreement have been subject to a 25% tariff. On June 4, the US also doubled tariffs on steel and aluminum imports to 50%.