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Some US tariffs on Canadian imports may remain in place even as the relationship between the two countries improves, Peter Hoekstra, the US ambassador to Canada, said.
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President Donald Trump, in his first Oval Office meeting with new Canadian Prime Minister Mark Carney, said there was nothing Carney could say to him Tuesday that would convince the president to reduce tariffs on Canadian goods.
Chinese imports to the U.S. dropped to their lowest levels since the pandemic as punishing tariffs began to take hold in March.
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Canada-U.S. talks will focus on lifting Trump tariffs: Canadian envoyAmbassador to the United States Kirsten Hillman said Monday that initial negotiations with Trump's team will focus on lifting tariffs.
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The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.
The Trump administration’s tariffs on US imports and Canada’s retaliatory actions have major implications for Canadian companies and their commercial transactions. Counsel should understand the resulting contract issues and the potential use of contract clauses or other avenues that may provide relief for affected companies.
Despite tariff uncertainties, Jamieson's Q1 results were solid. Click here to read why JWLLF stock offers a GARP opportunity.
“I’m not sure they’ll be totally removed,” Hoekstra said in an interview on Global TV’s The West Block Sunday when asked about the 25% tariff US President Donald Trump placed on most Canadian goods in March, citing concerns about fentanyl entering the US.
President Trump seems to think not. The industries he constantly mentions when he pushes his case, including autos, energy and lumber, beg to differ.