Canada ready for trade talks with US as tensions escalate
What's the story
Canadian Finance Minister Dominic LeBlanc has said that the country is ready to start early talks on a review of the North American free trade agreement if the Trump administration wants to begin that process.
LeBlanc reiterated Canada's preference for broad-based negotiations on several trade issues at once instead of a piecemeal approach.
"If the American administration indicated to us that they wanted to advance that date and have those conversations, we would be ready," he told Bloomberg News.
Trade measures
Ready to collaborate with US on China dumping
The United States-Mexico-Canada agreement (USMCA) is scheduled for a joint review in 2026.
LeBlanc also announced Canada's readiness to work with the White House on further actions against China's purported "dumping into the North American market."
This comes after Canada's recent move to apply tariffs on Chinese steel, aluminum, and electric vehicles (EVs) largely to align with US trade policy.
Mexican President Claudia Sheinbaum has also declared plans for a review of tariffs on Chinese shipments.
Trade tensions
US-Canada trade relations face unprecedented challenges
The minister's comments came at the end of an unprecedented week of turbulence in trade relations across the North American trade bloc.
The US imposed 25% tariffs on most goods it imports from Canada and Mexico, prompting swift retaliation from Prime Minister Justin Trudeau's government, which put its own tariffs on about C$30 billion of US-made goods.
Trade accusations
Trump accuses Canada of exploiting trade agreements
President Donald Trump has accused Canada of "ripping us off for years" on tariffs for lumber and dairy products.
He threatened another round of tariffs after his administration briefly delayed USMCA-covered goods until April 2.
Trudeau has accused Trump of attempting to create economic hardship in Canada with an ultimate goal to annex the country.