World Business Report US-Canada: Can a trade deal get done?
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Jun 30, 2025 Christophe Bondi, a partner at Steptoe LLP and former Canadian trade negotiator, dives into the complexities of US-Canada trade negotiations. He discusses the recent UK-US trade deal and its implications for Canada. Topics include the challenges of tariffs, the impact of international tax policies, and the pressing backlog at European shipping ports. Bondi also highlights creative strategies businesses can employ for economic growth amidst geopolitical tensions and evolving trade dynamics.
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Symbolic US-UK Trade Deal
- The US-UK trade deal is more symbolic than comprehensive, addressing only key irritants like tariffs on cars and aircraft parts.
- Such deals reflect a limited, selective approach rather than traditional broad international trade agreements.
Canada’s Tariff Negotiation Strategy
- Dropping the digital services tax by Canada helps relaunch trade talks with the US and prevents new tariffs.
- Focus now lies on reducing US tariffs on steel, aluminium, and non-USMCA covered goods.
Shifting US Trade Policy
- US trade policy is shifting to a deals-based, limited approach away from rules-based multilateralism.
- Keeping steel and aluminium tariffs harms the integrated North American economy, especially automotive production.