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(Bloomberg) — Canadian Prime Minister Mark Carney said he believes trade negotiations with the US will “intensify” but acknowledged there’s little evidence the Trump administration is willing to cut a deal that would completely drop tariffs.
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“We need to recognize that the commercial landscape globally has changed,” Carney told reporters in Ottawa prior to a closed-door meeting of his cabinet on Tuesday. “We will continue to focus on what we can most control, which is building a strong Canadian economy.”
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In June, Carney’s government announced it would boost defense spending this year and scrapped a digital services tax that would have cost US tech giants billions of dollars, meeting two demands US President Donald Trump had put to Canada. The prime minister said the two countries would aim for a broader trade agreement by July 21.
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Then, on July 10, Trump posted a letter to Carney threatening to impose 35% tariffs on Canadian goods by August 1. The letter made no mention of the Canadian federal government’s efforts to ramp up expenditures on defense and border security, nor its decision to eliminate the digital tax.
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A poll by the Angus Reid Institute released Tuesday found that 84% of Canadians don’t believe that Trump and his officials will “negotiate in good faith.” Only 11% said they are confident they’ll negotiate fairly.
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White House officials have said the 35% tariff, if implemented, wouldn’t apply to goods shipped under the US-Mexico-Canada trade agreement that are currently exempt from US tariffs that went into effect in early March.
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Since his return to power in Washington, the president has sidestepped that continental trade accord to place or announce import taxes on foreign steel, aluminum, cars and copper.
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Carney told reporters that “a strong Canadian economy, to be absolutely clear, includes a strong steel industry. It includes a strong Canadian auto industry, a strong Canadian aluminum industry, and copper industry and others. And we’ll be focused on what we can do to support that.”
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