That rate would apply to Canadian exports currently being tariffed at 25 per cent, under Trump’s emergency powers<\/a>, citing the national security threat from fentanyl trafficking.\u00a0Most Canadian goods are exempt from that tariff, provided they meet the North American content rules\u00a0of the Canada-U.S.-Mexico Agreement (CUSMA).<\/p>\n Separately, Canadian steel and aluminum are facing a 50 per cent tariff that the U.S. has imposed on such imports from all countries, while the U.S. tariff on Canadian energy and potash is set at 10 per cent.\u00a0\u00a0\u00a0<\/p>\n WATCH |\u00a0Canada’s trade team downplays prospects for deal by Aug. 1:\u00a0 Canada-U.S. trade deal hopes appear to fade after latest talks<\/p>\n Although U.S. President Donald Trump\u2019s Aug. 1 deadline is fast approaching, there is no sign of a breakthrough yet on a new Canada-U.S. trade deal after a week of talks in Washington, D.C. Ottawa continues to say it won\u2019t sign anything that isn\u2019t in Canada\u2019s best interest.<\/p>\n Trump made his comments after a reporter asked what he expects between now and next Friday, the date set for imposing\u00a0new or higher tariffs on many of the U.S.’s biggest trading partners.\u00a0<\/p>\n “Aug. 1\u00a0is going to come and we will have most of our deals finished, if not all,” Trump said. He spoke of progress in talks with Australia, the European Union and China, but singled out Canada for criticism.<\/p>\n ‘Haven’t been focused on’ Canada<\/p>\n “We don’t have a deal with Canada;\u00a0we haven’t been focused on them,” Trump said.\u00a0<\/p>\n Trump’s comments are the latest nail in the coffin of Canada’s prospects for a deal by the U.S. president’s deadline.\u00a0\u00a0<\/p>\n On Thursday, during a visit to Washington, Canada’s top trade negotiators\u00a0downplayed the likelihood<\/a> they’ll get an agreement by Aug. 1.<\/p>\n “We’re going to continue to work toward the Aug. 1 deadline,” said Canada-U.S. Trade Minister Dominic LeBlanc. “But all of these deadlines are with the understanding that we’ll take the time necessary to get the best deal that we think is in the interest of the Canadian economy and Canadian workers.”\u00a0<\/p>\n Earlier this week, Carney had\u00a0told a news conference that his objective is “not to reach a deal whatever it costs<\/a>.”<\/p>\n After Carney met with Canada’s premiers, Nova Scotia’s Tim Houston said the prime minister isn’t dead set on signing a deal by the deadline.\u00a0<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/07\/1753461910_868_default.jpg\")
<\/p>\n![\"Trump](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/07\/1753461910_353_trump.jpg\")
Trump walks to board Marine One on the south lawn of the White House on Friday. His administration has set an Aug. 1 deadline to impose new or higher tariffs on many of the U.S.’s biggest trading partners. (Alex Brandon\/The Associated Press)<\/p>\n