BILLIONS OF DOLLARS AT STAKE: BUSINESS GROUP
Trade experts and industry officials say new tariffs could lead to job losses and business closures in vulnerable sectors, including lumber, wine and dairy. They also warn the dispute could complicate broader USMCA negotiations.
“There are billions in goods per year that were not impacted before, but now are at risk of being impacted significantly,” said Candace Laing, CEO of the Canadian Chamber of Commerce.
“Business have been doing a high-wire act for well over a year, holding off on hiring, investment and growing in Canada,” she said.
Canada’s minister responsible for US trade, Dominic LeBlanc, and chief trade negotiator Janice Charette have been in Washington since last week for talks.
On Monday, the Canadian officials met for nearly two hours with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.
Greer has repeatedly cited Canada’s tariffs that followed initial US tariffs, some provinces’ refusal to stock US liquor and Canada’s dairy supply management system among US grievances.
Two sources said one of the main sticking points was US tariffs on Canadian vehicles.
The sides have discussed cutting US Section 232 tariffs on Canadian vehicles to 15 per cent from 25 per cent, with further reductions based on the amount of US content in each vehicle, the sources said.
The details of the deal touted by Trump remained unclear.
