U.S., Canada Reopen Trade Talks
(MENAFN) In a significant shift in North American trade dynamics, U.S. President Donald Trump's chief economic advisor, Kevin Hassett, announced on Monday that the United States is "immediately" restarting trade discussions with Canada.
This decision comes after Canada agreed to withdraw its implementation of the digital services tax (DST), a move that had previously strained bilateral relations.
When asked during an interview with a news agency whether the trade discussions would recommence following Canada’s decision on the DST, Hassett responded affirmatively: "Absolutely."
He mentioned that Trump had called on Canada to abandon the tax during the recent G7 summit.
"It's something that they've studied; now they've agreed to it, and for sure, that means that we can get back to the negotiations," Hassett explained, signaling a clear path forward for renewed talks.
Late Sunday, Canadian officials declared they would formally retract the DST and proceed with efforts to secure a trade agreement with the United States, aiming to finalize terms by July 21.
“Today’s announcement will support a resumption of negotiations toward the July 21, 2025 timeline set out at this month’s G7 Leaders’ Summit in Kananaskis,” stated Canadian Prime Minister Mark Carney.
“In our negotiations on a new economic and security relationship between Canada and the United States, Canada’s new government will always be guided by the overall contribution of any possible agreement to the best interests of Canadian workers and businesses,” he added.
These latest developments follow President Trump’s declaration on June 27 that the United States would halt trade discussions with Canada in response to the DST.
With that obstacle now removed, both nations appear ready to move forward in crafting a new economic partnership.
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