The Big Story What's different about the Canada/U.S. trade talks this time around?
Aug 28, 2025
In this discussion, international trade lawyer William Pellerin from McMillan LLP dives into the renewed trade negotiations between Canada and the U.S. He explains how Canada’s removal of retaliatory tariffs aims to get both nations back to the table. The conversation highlights challenges faced by Canadian manufacturers, particularly regarding U.S. steel and lumber tariffs. Pellerin also addresses the complexities of reaching agreements in strategic sectors, emphasizing the significance of collaboration in defense and resources amid economic pressures.
AI Snips
Chapters
Transcript
Episode notes
Negotiations Focused On Five Key Sectors
- Canada and the U.S. are refocusing talks on five strategic sectors: aluminum, steel, autos, copper and softwood lumber.
- Those sectors matter because they are politically sensitive and deeply integrated across the border.
Drop Non-Core Tariffs To Reopen Talks
- Dropping many counter-tariffs reopened negotiation channels and lowered consumer prices on many goods.
- Consider prioritizing negotiation leverage that reduces direct costs for businesses and consumers while preserving options on strategic sectors.
Tariff Lifts Hurt Some Domestic Makers
- Lifting counter-tariffs helps consumers but increases competition for Canadian manufacturers.
- Some Canadian producers face uneven exposure because U.S. producers can ship tariff-free while Canadians face U.S. sectoral tariffs when exporting.