Canada to remove many retaliatory import tariffs on US goods: Carney

Canada will remove many retaliatory import tariffs on US goods and intensify talks with the United States on striking a new trade and security relationship, Prime Minister Mark Carney said on Friday.

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Canadian tariffs on US autos, steel and aluminium will remain for now, he told a press conference.

Carney noted that the United States had recently made clear that it would not impose tariffs on Canadian goods that were compliant with the three-nation US-Mexico-Canada free trade agreement, something he called a positive development.

“In this context and consistent with Canada’s commitment to USMCA, I am announcing today that the Canadian government will now match the United States by removing all of Canada’s tariffs on US goods specifically covered under USMCA,” he said.

“Canada and the US have now reestablished free trade for the vast majority of our goods,” he added, reiterating that compared with its trading partners, Canadian exports were still subject overall to a low level of US tariffs.

The news helped the Canadian dollar extend its gains.

Canada has been holding talks with the United States on a new economic and security relationship for months but the two sides are not close to a deal.

Canada and China are the only nations to strike back at the United States with counter-tariffs, much to the irritation of the US administration.