Trade Talks Standoff: Canada and US On Edge Over New Tariffs

Top trade negotiators from Canada and the U.S. are working to finalize a trade deal amid threatened tariffs by the U.S. President. Talks have been tense with a history of imposed tariffs and countermeasures. A potential deal would require concessions and might face domestic challenges in Canada.

Top negotiators from Canada and the United States convened in Washington DC for the third consecutive day to nail down a trade handshake before the deadline on Saturday when U.S. tariffs were to take effect. President Donald Trump remained optimistic about concluding an agreement but withheld specifics on the potential pact details.

The American leader also embarked on initiating trade discussions with Mexico. Talks in the U.S capital, however, harbor the potential for retreating the 18-month trading snarls, following Trump's initial levies on Canadian imports that resulted in tit-for-tat penalties by Ottawa.

In the latest exchanges, Trump threatened to introduce a 50% tariff on Canadian products totaling $20 billion if no terms are met. Besides, multiple high-level discussions, such as those with Canada's Dominic LeBlanc, aimed at narrowing gaps towards an accord with both parties calling for more effort to be expended.