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Canadian Prime Minister Mark Carney said he was ready to agree on a new trade agreement with President Donald Trump while there is “Canada’s respect.”
Karni expressed these comments during a visit to the Hamiltan Steel Plant, Ontario, when Canada submitted $ 29.8 billion ($ 20.7 billion) at the return tariff for US imports.
It comes after Trump hit 25% tariffs for all the steel and aluminum that came to the country.
Since President Trump has taken the post in January, both countries participated in the escalation trading war, and the US president has repeatedly threatened to join his neighbor.
Carney on Wednesday condemned the US last round as “unfounded”.
“We will all be better if the greatest economic partnership in the world will recover, restored,” he said.
Canada, which is the largest foreign supplier of the steel and aluminum in the United States, is strongly tariff.
Trump substantiated tariffs, saying that they needed the US national security and increase the demand for domestic producers, which, he said, was “depressed” by foreign competition.
The US president has implemented a 25% tariff on Canada and Mexico, citing drug concerns and migrants crossing the US border.
Tariffs for steel and aluminum, effective on Wednesday, note the end of the liberation previously provided by several countries, including Canada.
In retaliation, Canada announced tariffs for US goods, including steel and aluminum, with additional measures that came into force at 00:01 EST (04:01 GMT) on Thursday.
The new tariffs cover a number of products, including $ 12.6 billion on steel, $ 3 billion per aluminum, as well as tools, computer equipment, water heaters, sports equipment and cast iron products.
Experts point out that growing trade dispute threatens economic stability for both countries.
On Wednesday, the Central Bank of Canada reduced interest rates to 2.75% from 3% to prepare the country’s economy for disruption.
Canadian Finance Minister Dominic Lebllan said at a press conference that the country was still trying to de-escalate.
“If you participate in the basement, there is no real prize for the first person who reached the basement,” Leblan said.
On Thursday, Prime Minister Ontario Doug Ford, together with federal representatives, will meet with US Minister of Commerce Howard Lutnik.
Lutnik told Fox Business Network that at the meeting he plans to try to “install” things between the two countries.
Mark Karni, who was elected leader of the ruling Liberal Party on Sunday, must swear the Prime Minister by replacing Justina Trudu. After winning the landslide, he promised to win a trade war against Trump.
With Jonathan’s reporting Joseph and Lisa Lambert
