US and Canada work on deal to ease tariffs on Canadian steel and autos
The Wall Street Journal reported on October 23 that Trump is expected to remove some tariffs on Canada.
Published
The United States and Canada are working on a deal that would ease US tariffs on Canadian steel and auto imports. Canada's steel and auto sectors are the two that Ottawa has already backed with a C$9 billion support package. A formal agreement on those sectors would be the first resolution by sector, rather than another round of statements that a deal is close.
BNN Bloomberg has reported that the US put 25 per cent tariffs on Canadian steel and aluminum in March 2025 and raised them to 50 per cent in June 2025. On October 23, BNN Bloomberg reported that Trump said a trade deal was "very close".
Since late September, outstanding issues have been called difficult to resolve, and Trump has said there was no rush. The tone has softened only gradually, into partial exemptions on products such as plywood and paper. Canada's own negotiator has cautioned against expecting a full return to tariff-free trade.
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