Canada-US tariff talks before deadline
Analysis based on 6 articles · First reported Aug 17, 2026 · Last updated Aug 18, 2026
The threat of new tariffs creates uncertainty for Canadian exporters and could disrupt trade flows, affecting industries like agriculture, steel, and aluminum. Markets will closely watch the outcome of the talks, as a failure could lead to higher costs and reduced trade volumes between the two countries.
Canada and the United States are engaged in intense negotiations to avert a new round of American tariffs set to take effect just after midnight on Wednesday. The tariffs, signed by President Donald Trump on July 20, impose 50% levies on Canadian goods worth around $28 billion, including honey, hockey sticks, cement, and wine. Canada-U.S. Trade Minister Dominic Lee and chief negotiator Janice Charette met with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in Washington on Monday, but no deal was reached. Prime Minister Mark Carney expects to speak with President Trump before the deadline. The tariffs are in response to Canada's provincial bans on American alcohol, supply-managed dairy, and vehicle quotas. Canadian officials and industry groups warn of severe impacts, including potential bankruptcies in the honey sector. The talks are part of broader CUSMA negotiations, which have not been formally launched between Canada and the U.S.
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