Trump-Carney White House Meeting: US-Canada Tariffs Take Center Stage

U.S. President Donald Trump and Canadian Prime Minister Mark Carney are scheduled to meet at the White House on Tuesday, with tariffs expected to dominate the agenda.

The visit marks Carney’s first in-person meeting with Trump since winning Canada’s April 28 federal election. 

Carney’s Liberal Party campaigned on a pledge to reset trade and security ties with Washington while pushing back against Trump’s increasingly aggressive trade stance. 

Carney has rejected Trump’s repeated comments about potentially making Canada the “51st state,” calling the idea something that will “never ever happen.”

Trump’s tariffs have been a flashpoint in U.S.-Canada relations. In February, Trump announced a 25% tariff on Canadian and Mexican imports, citing drug and migrant trafficking concerns. However, implementation has been delayed, and exemptions have been granted in some cases.

In March, the Trump administration imposed a 25% tariff on steel and aluminum imports that failed to meet North American trade standards. Trump also introduced a 25% tariff on autos and parts that were not aligned with U.S. free trade requirements. 

On Sunday, the U.S. President added to the uncertainty, saying he would implement a 100% tariff on all foreign-produced films, a potential blow to Canada’s sizable film and media industry.

On Monday, Commerce Secretary Howard Lutnick told Fox Business that talks with Canada are “complex” but ongoing. “It’s a process,” he said.

Carney, speaking to reporters Friday, said he expects “difficult yet constructive” discussions during a “comprehensive” meeting agenda.

Trump told NBC News that Carney is a “very nice man,” but reiterated that the U.S. doesn’t need Canadian exports.

While Trump has repeatedly said a trade deal could be announced “this week,” none have officially been announced. U.S. officials continue negotiations with more than a dozen countries. 

Even with potential progress on deals with India, Japan, and South Korea, the outlook for a broader reset with China remains uncertain.

U.S. equity markets traded in the red pre-market as investors braced for the Federal Reserve’s two-day meeting on monetary policy, beginning Tuesday.

The SPDR S&P 500 ETF Trust (SPY) was down 0.8% in pre-market trade, the Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, fell over 1%, and the SPDR Dow Jones Industrial Average ETF (DIA) dropped 0.6%.

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Read also: Dow Futures Drift Lower As Fed Meeting, Tariff Risks Keep Markets On Edge

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