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Trump says it's a good thing Carney signed a deal with China
Summary
President Donald Trump called it "a good thing" that Prime Minister Mark Carney signed a trade deal with China, as Canada announced a tariff exchange covering some Chinese electric vehicles and agricultural duties including canola.
Content
President Donald Trump said Friday it was "a good thing" that Prime Minister Mark Carney signed a trade deal with China. Canada announced the agreement in Beijing to cut tariffs on a set number of Chinese electric vehicles in exchange for China reducing duties on agricultural products, including canola. The move departs from U.S. policy as Ottawa contends with broad U.S. tariffs affecting Canadian industries. Canadian officials have framed the deal as a pragmatic partnership that reflects current global realities.
Key points:
- Trump told reporters leaving the White House that if a country can get a deal with China "you should do that," and described Carney's signing as "a good thing."
- Canada announced a deal to slash tariffs on certain Chinese electric vehicles in return for China cutting duties on agricultural goods, including canola.
- The article reports the U.S. has imposed 35 per cent economywide tariffs on Canada, though those duties do not apply to goods compliant with the Canada-U.S.-Mexico Agreement (CUSMA).
- Responses in the U.S. were mixed: campaign adviser Chris LaCivita criticized Canada's outreach on social media, and U.S. Trade Representative Jamieson Greer told CNBC the deal was "problematic for Canada."
- Mark Carney described the agreement at a Beijing news conference as a partnership that is "realistic, respectful and interest-based."
Summary:
The announcement represents a clear divergence between Canadian and U.S. approaches to trade with China and has prompted measured concern from some U.S. officials. Its implications for Canada-U.S. economic relations and affected industries are being discussed. Undetermined at this time.
