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Mark Carney seeks to secure a trade agreement with the Trump administration before new tariffs take effect.

Canadian Prime Minister Mark Carney is currently engaged in intense negotiations with the Trump administration to avert a fresh round of 50% tariffs on various Canadian imports. The administration announced that these duties, which affect approximately $20 billion worth of goods including milk, beer, and plywood, are set to begin on Wednesday. Negotiations have centered on the U.S. demand for Canada to remove retaliatory measures, specifically the provincial bans on American-made alcohol and counter-tariffs on U.S. vehicles. Mark Carney stated that while Canada is negotiating from a position of strength, he is preparing for all eventualities if a deal is not reached. The administration remains firm on a minimum 15% tariff rate for automobiles, while Canada seeks to reduce this rate or expand existing exemptions. The outcome of the talks will impact major industries such as steel, lumber, and automotive manufacturing. If a resolution is not reached by the deadline, the administration will proceed with the new duties, potentially forcing Canada to implement further counter-tariffs.

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