US, Canada trade teams race to seal deal before tariff deadline

The US and Canada are in the final stretch of trade negotiations, with both sides racing to avoid a fresh round of tariffs that would hit roughly $20 billion worth of Canadian goods. President Trump initially set August 19 as the trigger date for a sweeping 50% tariff on Canadian imports, then granted a three-day extension to August 22 after talks showed enough momentum to justify a pause. What’s on the table The proposed deal being hammered out would cut the tariff on Canadian-built vehicles from 25% to 15%. Duties on Canadian steel and aluminum would drop from 50% to 25%, though quotas may be attached to those reductions. Canadian Trade Minister Dominic LeBlanc and US Trade Representative Jamieson Greer are leading the negotiations. The US has framed its demands around a provision of the 1930 Tariff Act, a Depression-era trade law being dusted off to address what Washington describes as discriminatory Canadian policies in automotive, dairy, and alcohol markets. Canadian Prime Minister Mark Carney has been keeping provincial leaders in the loop throughout the process, particularly on flashpoint issues around US alcohol sales in Canadian markets. Why the deadline keeps moving The p...