The U.S. ambassador says the U.S.-Canada "win-win" agreement is within reach

The U.S. Ambassador to Canada stated that despite the previous trade friction between the U.S. and Canada over tariff issues, the prospects for trade negotiations between the two countries are optimistic, believing that a fair agreement can be reached soon.

On July 4th, media reported that U.S. Ambassador to Canada Pete Hoekstra spoke at an Independence Day celebration in Ottawa, stating that President Trump and Canadian Prime Minister Carney are negotiating for their respective countries. He believes that after the negotiations conclude, both leaders will be able to present favorable agreements to their citizens. Hoekstra emphasized:

This means we will achieve a true win-win.

Previously, according to Xinhua News Agency, after Trump halted U.S.-Canada trade negotiations, Canada announced the cancellation of the digital services tax, aiming to reach a trade agreement by July 21. The former U.S. Congressman from Michigan stated at the event:

We will get through this tough time. When we get through it, we will be stronger and better than we were at the beginning.

Currently, the U.S. imposes import tariffs of up to 50% on Canadian steel, aluminum products, and automobiles, while Michigan's economy heavily relies on trade with Canada.

Analysts believe that if an agreement can be reached before the deadline, it will help ease trade tensions between the two countries and inject new stability into bilateral economic and trade relations.

Background of the Tariff Dispute

There is already a trade agreement between the U.S., Canada, and Mexico, which was signed by Trump during his first term.

However, with Trump taking office for his second term, he avoided the agreement, imposing a 50% import tax on foreign steel and aluminum, as well as tariffs on cars and trucks. Canada is a major exporter of all these products.

In response, the Canadian government implemented counter-tariffs on hundreds of billions of dollars of U.S. manufactured goods, including vehicles and other consumer products.

However, Carney, who became Prime Minister of Canada in March this year, chose not to retaliate when Trump raised tariffs on steel and aluminum products a few weeks ago