US-Canada trade deal may be ready for approval at APEC summit, Globe and Mail reports
A US-Canada trade deal on steel, aluminium and energy could be ready for Prime Minister Mark Carney and US President Donald Trump to sign at the Asia-Pacific Economic Cooperation summit later this month in South Korea, the Globe and Mail newspaper reported on Tuesday, citing sources familiar with the matter.
Reuters could not immediately verify the report by the Toronto-based daily.
The White House, S. Commerce Department and Carney's office did not respond to requests for comment outside regular business hours.
The US., however, is not ready to make any deal on Canadian automobiles or softwood lumber, the report added.
Trump imposed tariffs on Canadian steel, aluminium and autos earlier this year, prompting Canada to respond in kind. Negotiations ensued on lifting the measures against steel and aluminium.
Canada will probably have to accept quotas on steel in exchange for a lower US tariff, with critical minerals off the table in these talks, sources told the Globe and Mail.
Reuters reported earlier this week that Canada offered tariff relief on some steel and aluminium products imported from the US and China, in efforts to help domestic businesses battered by a trade war on two fronts.
Carney visited Washington earlier this month and said he had "a meeting of minds" with Trump on the future of the steel and aluminium sectors.
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