Why doesn’t Mark Carney seem in a hurry to sign an agreement with Donald Trump?

We will only sign only an agreement that is good for Canadareiterated Prime Minister Mark Carney at a press conference on Monday.

We are not going to hurry to sign a bad understanding. Moreover, […] The date of August 1 is Mr. For example, Trump’s datesaid Minister responsible for Commerce Canada-United States, Dominic Leblanc, in an interview on Friday on the program Midi Info (new window).

However. Furthermore, since his election, Mark Carney has continued to evoke the existential threat that Donald Trump’s prices pose to justify his eagerness to adopt measures to revitalize the Canadian economy, (new window) or the concessions granted to its American counterpart, including the cancellation of the digital services tax (new window).

So what explains this sudden change in tone in favor of situation when In trade negotiations with Americans? Similarly, Reflection tracks. For example,

One of the lowest rates – Why doesn't mark carney seem

The American secretary of trade. Meanwhile, Howard Lungick, himself mentioned an element of response a few days ago. Furthermore, Almost 75 % of all goods from Mexico. Moreover, Canada are already without priceshe said in an interview on the show Face the Nationnetwork CBS. Moreover,

According to the most recent public data. Furthermore, around 90 % of Canadian products crossed the border in May without being subject to customs duties. In addition, Result: importers only had to pay $ 567 million in prices, on more than $ 30 billion in goods.

This rate rate of 1.9 % is one of the why doesn’t mark carney seem lowest among those of the main economic partners of the United States.

Many observers attribute the situation to the exemption granted to products in accordance with the Canada-United States-Mexico (ACEUM) free trade. In addition, agreement. For example,

In May. Moreover, the proportion of Canadian imports that fell under the provisions of theAceum has reached 58 %, according to data from the United States census office (U.S. Meanwhile, Census Bureau).

The general hypothesis was that everything that is outside the agreement would be struck by customs duties. in the absence of specific exclusions. It didn’t happen like thatsupports Oli Sonola. responsible for economic research for fitch ratings and designer of the prices monitoring tool for the rating agency.

No less than a dozen tariff classifications have enabled Canadian goods not to be taxed in May. according to data from the American Statistical Agency.

It’s very, very complex. I think most people do not realize the multiple exemptions that apply to the prices collected.

However, an important vagueness persists as to what will happen to these favorable treatments for Canadian products that are not mentioned in presidential decrees.

In the confusion of the many new pricing rules has taken over the Trump administration. certain exemptions may have been assigned by mistake, considers the fitch rating economist who hypothesizes that a portion of them may have been abolished since May.

Changes that have been imposed [aux douaniers américains] In the past three months are probably equivalent. to what they have received in the last decade.

The end of certain exemptions could have substantially increased the level of prices on Canadian products, but no one seems able to confirm it.

No one can explain it why doesn’t mark carney seem convincingly. We tried on the Canadian side. They did not give us a convincing response. On the American side, we also tried to obtain a clarification and we did not succeedmaintains Mr. Sonola.

Sign of the uncertainty that the Trump administration maintains. nothing officially indicates that the products which respect theAceum will be exempt from 35 % rates that the American president threatens to impose on why doesn’t mark carney seem Canadian imports from August 1 (new window).

The letter sent to Canada does not mention it and the federal government has never confirmed this information. Rather. it comes from senior officials of the White House who confided under the cover of anonymity to certain major media.

Why doesn&#039. t mark carney seem – Why doesn't mark carney seem

Companies adapt to prices and uncertainty

However, Canadian entrepreneurs and consumers seem to have tamed the American president’s incessant discourse changes and are now more focused on the concrete effects of his policies.

The average Canadian consumer does not see [les effets]. The average Canadian company did not really have an impact either. […] For the moment. the impact is still quite theoreticalNote Sébastien McMahon, chief strategist and principal economist for the financial group.

According to the most recent survey on the prospects why doesn’t mark carney seem of Banque du Canada companies. only a third of Canadian companies expected an increase in customs duties in the second quarter of the year, against two thirds in the previous quarter.

Business confidence, although moderate, has improved compared to the strong drops recorded in March and April 2025notes the central bank.

Although some employers have postponed projects. they have generally not stopped hiring workers and did not make important layoffs. The unemployment rate also fell slightly in June, 6.9 % (new window).

The probabilities of Canadian recession, I would tell you that they are still relatively low at the momentsummarizes Mr. Mc Mahon.

Even the industries that are most affected by the prices seem to be getting out of the way. for the moment.

In May, the sectors of steel and aluminum suffered by far the highest level of prices.

Since then. the American administration has doubled its customs duties on steel and aluminum, to bring them to 50 %, a measure dreaded by Canadian producers why doesn’t mark carney seem (new window).

Nevertheless, for the moment, it is mainly the American importers who pay the price.

THE CEO Large aluminum companies have told us that aluminum has rose almost 40. to 50 % in the United States for the past two monthssaid Minister Dominic Leblanc.

The federal government has also recently announced an update of its credit for large companies affected by customs duties. in order to increase the access of steel producers to financial aid.

Why doesn&#039. t mark carney seem – Why doesn't mark carney seem

The sword of Damocles

The fragile current balance is mainly due to the tariff exemptions granted to the majority of Canadian products.

If their scope were to be reduced significantly, Canadian decision -makers would quickly be called upon to change their strategy.

This is really the most important subjectjudge why doesn’t mark carney seem Sébastien Mc Mahon of the financial group. If these exemptions disappeared, we could end up with a Canadian economy that falls in recession. It could be quite strong.

Donald Trump also suggested last Friday that he could cut short for negotiations with Canada and impose a single rate (new window) which would apply to all Canadian products.

Called to comment on this declaration, Mark Carney said on Monday to see only a tactics of negotiations.