Prime Minister Mark Carney speaks at the Gorman Brothers Lumber sawmill in West Kelowna, B.C. on Tuesday, Aug. 5, 2025. THE CANADIAN PRESS/Darryl Dyck

By Canadian Press

latest on the economy

Carney to meet with cabinet, premiers to discuss latest U.S. tariffs

Aug 6, 2025 | 9:09 AM

Prime Minister Mark Carney meets with his cabinet and the premiers today, less than a week after U.S. President Donald Trump hit Canada with a baseline 35 per cent tariff.

This latest trade war escalation applies only to goods not covered by the Canada-United States-Mexico agreement on free trade, better known as CUSMA.

The latest levy took effect on Friday after the two countries failed to hit an Aug. 1 deadline to secure a new trade agreement.

Carney said yesterday at a press conference in B.C. that he has not talked to Trump in recent days but will speak with him “when it makes sense.”

The prime minister added that about 85 per cent of trade with the U.S. remains tariff-free because of CUSMA.

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Sectoral tariffs, like the 50 per cent duty on steel, aluminum and copper, remain in place.

This report by The Canadian Press was first published Aug. 6, 2025