US-Canada Tariff Compromise as Early as the 5th... "Officials from Both Countries in Communication Throughout the Day"
Summary
- The United States and Canada appear to be working on a compromise to resolve the tariff conflict initiated by the Donald Trump administration.
- Canada has imposed 25% tariffs on products imported from the United States, and the US has also imposed tariffs at the same rate on Canadian products.
- US Commerce Secretary Howard Lutnick indicated that relief measures could be considered if rules are followed, suggesting that a compromise could be reached at a middle point.
It has been reported that the United States and Canada are working on a compromise regarding tariffs imposed by the Donald Trump administration.
On the 4th (local time), the Wall Street Journal (WSJ) reported, citing anonymous sources, that the US and Canada could reach a compromise as early as the 5th.
The WSJ reported that communication between US and Canadian officials continued throughout the day, and that there could be dialogue between President Trump and Prime Minister Justin Trudeau.
Earlier, the US imposed a 25% tariff on products imported from Canada starting that day. Canada also imposed retaliatory 25% tariffs on US products worth 30 billion Canadian dollars (approximately 30 trillion won).
Regarding this, US Commerce Secretary Howard Lutnick suggested a compromise during a Fox Business interview, saying, "We are considering providing relief measures if they follow the rules. We will meet at a middle point."
In a CNBC interview on the same day, Secretary Lutnick also stated that tariffs could be suspended if Canada could prove it can block the flow of the opioid painkiller fentanyl into the United States.
He spoke with Canadian Finance Minister Dominic LeBlanc that day.
Oh Se-sung, Hankyung.com reporter sesung@hankyung.com
Korea Economic Daily
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