US, Canada near tariff deal on steel, autos ahead of elections
Published 3 h ago3 sourcesEvidence: Reported
A report indicates no Canada-US trade deal is expected before the US midterm elections, with Trump's threatened tariff hike on autos and steel looming in January. The stalemate continues an established pattern of unresolved bilateral trade tensions, but the January tariff deadline introduces a concrete escalation risk. The outcome hinges on post-midterm political dynamics and whether the threatened tariffs are implemented.
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Negotiations between the US and Canada are reportedly nearing a trade deal, with both sides signaling progress on tariff reductions, particularly for steel and autos. While US President Trump claims Ottawa is willing to concede, Canadian PM Carney maintains Canada's red lines are being respected. The timing of these announcements, nine days before US midterm elections, introduces uncertainty regarding the finalization and specific terms of any agreement.
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