Overview
- Canadian ministers Dominic LeBlanc and Janice Charette met repeatedly with U.S. Trade Representative Jamieson Greer on Friday and described talks as "very close" but did not sign a final agreement.
- If no deal is completed before 12:01 a.m. ET Saturday the president’s proclamations under Section 338 of the Tariff Act of 1930 would activate up to 50% tariffs on a wide list of Canadian products.
- Multiple reports say draft terms would cut auto tariffs to about 15% and lower steel and aluminum duties to roughly 25% while leaving some sectoral tariffs in place, though those figures remain unconfirmed by officials.
- U.S. negotiators are seeking wider concessions beyond tariffs, including preferences on critical‑minerals purchases, defence procurement and increased oil exports, and Ottawa will need provincial cooperation to lift bans on U.S. alcohol sales.
- The use of rarely invoked Section 338 creates legal uncertainty and the deal’s outcome could reshape North American supply chains, hurt industries in affected provinces, and influence upcoming USMCA negotiations.