Canada Seeks Tariff Relief in US Trade Talks, USMCA Review Looms

Canada’s ambassador to the US said that in trade negotiations with Washington, Canada’s top objective is to secure relief from the hefty tariffs the US has imposed on key industrial sectors such as steel, aluminum, and automobiles.

Mark Wiseman, a former pension fund and BlackRock executive, noted that Canadians need not focus excessively on the formal review process for the existing US-Mexico-Canada Agreement (USMCA), which is about to begin on July 1. Wiseman told business figures that senior Trump administration officials, led by US Trade Representative Jamieson Greer, have indicated they intend to keep the agreement but will make amendments to it. Moreover, even if a renewal deal is not reached after July 1, the USMCA’s provisions will remain in effect for another decade, continuing until 2036.