Overview

• Prime Minister Mark Carney arrived for his second Oval Office working meeting, with talks centered on trade and sectoral tariffs that have strained Canada’s economy.
• The U.S. has levied 50% tariffs on steel and aluminum, a 25% tariff on autos with carve‑outs for U.S. parts, a new 10% duty on Canadian softwood lumber lifting total levies above 45%, and broader measures on goods traded outside USMCA.
• Canadian officials have cautioned against expecting a breakthrough, seeking incremental relief on metals as business leaders talk up the prospect of limited carve‑outs and industry groups say aluminum relief is unlikely.
• To keep talks alive, Ottawa scrapped a proposed digital services tax and rolled back retaliatory measures, and officials note that more than three‑quarters of bilateral trade still moves tariff‑free under USMCA.
• President Donald Trump defended the tariffs and claimed companies are shifting to the U.S., and he said a previously announced 25% tariff on foreign medium‑ and heavy‑duty trucks will take effect Nov. 1 as Canadian opposition leaders press Carney for concrete wins.