White House Adviser: US-Canada Trade Talks Are "Gaining Momentum"
White House economic adviser Kevin Hassett said US-Canada trade negotiations have picked up and the sides are "very close" to a deal. Talks had stalled since August, when the US imposed 50% tariffs on Canadian goods.
White House economic adviser Kevin Hassett said on Sunday, 25 October, that trade negotiations between the United States and Canada have intensified and are "gaining momentum". He said the two countries are "very close to finally striking a deal", which could ease a trade dispute that has affected businesses and consumers on both sides of the border.
Hassett spoke in an interview with Fox News, as quoted by Bloomberg. According to him, US Commerce Secretary Howard Lutnick held talks with his Canadian counterparts throughout the week.
Background
The source recalls that in August the talks reached a deadlock and the US imposed a 50% tariff on Canadian goods. US President Donald Trump renamed Lake Ontario "Lake America" and mocked Canada on social media.
On 25 August, Canada announced new tariffs on imports from the US, which took effect on 8 September. Trump then signed orders banning imports from Canada of a wide range of alcoholic beverages, motorcycles and dairy products, in response to the tariffs imposed by Ottawa.
The source does not say what specific terms are under discussion or when an agreement might be signed.
