Prime Minister Mark Carney released a statement just past midnight on Friday after U.S. President Donald Trump signed an executive order to increase a tariff on Canadian goods to 35 per cent.
“While the Canadian government is disappointed by this action, we remain committed to [the Canada-U.S.-Mexico Agreement], which is the world’s second-largest free trade agreement by trading volume,” the statement read.
“The U.S. application of CUSMA means that the U.S. average tariff rate on Canadian goods remains one of its lowest for all of its trading partners. Other sectors of our economy — including lumber, steel, aluminum and automobiles — are, however, heavily impacted by U.S. duties and tariffs.”
Unpleasant but CUSMA offers some relief.
