Sometimes even small things can feel like big victories…
What happened: While no major progress has been made in tariff talks between Canada and the U.S., Dominic LeBlanc, the minister responsible for Canada-U.S. trade, said on Thursday that the two sides are pursuing technical discussions, which could lay the groundwork for smaller deals.
- These deals would be for industries hit hardest by tariffs, such as steel, aluminum, and autos. Meanwhile, Industry Minister Mélanie Joly said that support is coming for these vulnerable industries.
- Canada’s top bureaucrat, Michael Sabia, was also meeting with American officials in D.C. this week.
Zoom out: Prime Minister Mark Carney commented on Wednesday that while nothing immediate had been accomplished during recent meetings with President Donald Trump, smaller industry-specific deals were a real possibility. The progress comes after retaliatory tariffs on American goods were dropped on Aug. 22 in an effort to restart stalled trade talks.
Why it matters: There was no indication that the broader tariffs would be ending any time soon, but the government’s latest messaging shows progress — a good sign given where trade talks were at a month ago.
Yes, but: Carney also noted that even after his positive chat with Trump, there was still no certainty a deal would happen.—GS