Carney says

Canadian Prime Minister Mark Karnya said his country “did not accept a bad business” simply reach a trade agreement with the US as a term on August 1, before US President Donald Trump will start imposing new tariffs.

“Our goal is not to reach the transaction that it costs,” Carney told reporters in Ontario. “We are engaged in a transaction that will be in the interests of the Canadians.”

US importers who buy goods from Canada will face 35%if the transaction is not reached by the expiration.

Neighbors are with each other’s largest trading partner, but were in confrontation after Trump returned to the White House earlier this year and unleashed a wide tariff program.

He claimed to increase American production and protect jobs. But this step violated the world economy and caused criticism that products could be more expensive for US consumers.

Trump has already imposed a 25% tariff on the import of some Canadian goods, as well as 50% of aluminum import tariff.

Speaking on Tuesday, Carney said he would consider the protection of aluminum and lumber, two key branches of the country, and hinted at the possibility of other protectionist measures as the US tariffs began.

The Prime Minister previously announced counter-measure, including Higher tariffs on imported steel in Canada.

“Perhaps it will be in the next couple of months … We will see other needs for supporting the sectors that were most affected,” said the Prime Minister at the Canadian province’s meeting.

Canada sells about three quarters of its goods in the US. In addition to metals and lumber, Canada exports a large amount of oil, cars and car parts, other machines, food and pharmaceuticals.

According to the US trade representative, in 2024, the United States exported almost $ 350 billion (£ 258 billion) to Canada and imported more than $ 412 billion from the northern neighbor.

Trump has announced a large range of tariffs both in certain categories of products and in the countries, claiming that the United States is unfair to its foreign trading partners.

He also gave other justifications for tariffs, including that he is trying to put pressure on his neighbors to stop the illegal supplies of Fentanyl to the US.

According to the US Customs and Border Patrol, about 0.2% of all Fentanyl’s seizures coming to the United States occur on the border with Canada, with almost all other Mexico confiscated at the border.

Since the solution of the global tariff program, Trump has announced several transactions – including the UK, Japan and Indonesia – but these agreements have retained higher tariff rates.

For example, on Tuesday, the White House announced an agreement with the Philippines, including the 19% tariff for goods from the country – compared to the 17% rate, which was originally announced, but lower than 20% tariff for Trump, which threatened in a letter earlier this month.