Canadian Prime Minister Mark Carney expressed caution after a newspaper reported that he may sign a trade deal on steel and aluminum with the U.S.
The Globe and Mail, cited sources close to the story, saying that Carney and U.S President Donald Trump would be ready to sign a trade deal at the Asia-Pacific Economic Cooperation summit at the end of the month in South Korea.
“We’ll see. We are in ongoing discussions with the Americans, and I wouldn’t overplay it,” Carney said.
Trump’s office imposed 50 percent tariffs on steel and aluminum earlier this year, and Canada responded with retaliatory tariffs. Both sides have been in talks for weeks for a potential deal for steel and aluminum.
When pressed about the report, Carney said he planned to meet Trump in South Korea.
The U.S however, is not ready to make any deals concerning tariffs on automobiles or softwood lumber. A 25 percent tariff is in effect for automobiles with a carve-out for parts compliant with the U.S-Mexico-Canada Agreement. Lumber exports have also been hit with 45 percent tariffs.
Carney visited Washington earlier this month where he failed to secure a trade agreement with the U.S president. Carney said he had a “meeting of minds” with Trump on the future of the metal sectors.
