In an interview on CBS’s ‘Face the Nation’ with Margaret Brennan, Canadian Minister for U.S.-Canada trade, Dominic LeBlanc, expressed disappointment regarding the recent imposition of a 35% tariff on goods by President Donald Trump.
LeBlanc emphasized that while negotiations are ongoing, the decision to raise tariffs has created significant challenges.
He highlighted the importance of the long-standing trading relationship between Canada and the United States, which has been built over decades, dating back to the Free Trade Agreement of the Reagan era.
The Minister noted that while the countries have a history of collaboration, the current trade climate has been affected by decisions taken unilaterally.
LeBlanc stated, “We believe there’s a great deal of common ground between the United States and Canada in terms of building two strong economies that work well together.”
Continuing on the matter of tariffs, LeBlanc explained the strategic importance of the Canadian steel sector, which is vital for national security.
He pointed out that Canada is the largest steel exporter to the United States, stressing that the high tariffs are affecting both nations’ economies.
LeBlanc underlined that a productive trade relationship includes comprehensive understanding of each country’s concerns, which he claims have been addressed in discussions with U.S. officials, including Secretary of the Treasury, Lutnick, and Ambassador Greer.
Regarding the retaliatory tariffs imposed by Canada earlier this year, LeBlanc acknowledged that tensions remain high but reassured that Prime Minister Carney is fostering a respectful relationship with President Trump as they negotiate.
He indicated a willingness to engage in constructive dialogue to resolve issues that affect both nations’ economic interests.
“We remain very optimistic,” LeBlanc stated, emphasizing the interconnectedness of the U.S. and Canadian economies.
Continuing the conversation, Brennan mentioned the impact of these tariffs on American automakers like GM, Ford, and Stellantis, who are reportedly experiencing profit declines due to the high costs.
LeBlanc responded, saying that the tariffs directly affect the prices of goods in both countries and reiterated that a joint approach could mitigate these economic repercussions.
He provided insights into how the economic integration between the two countries complicates these tariff issues further.
For example, he noted that a considerable percentage of vehicles sold in Canada come from U.S. manufacturers and that tariffs on aluminum dramatically increase vehicle prices.
LeBlanc believes that addressing these tariffs can lead to mutually beneficial agreements that can bolster the economies of both nations.
Brennan pressed on the potential for a direct conversation between the two Prime Ministers, noting that a recent call fell through.
LeBlanc responded positively, indicating that discussions between Prime Minister Carney and President Trump are likely in the upcoming days, which may lead to advancements in negotiations.
He remained hopeful that continued talks would result in reduced tariffs and increased certainty for investments across the border.
LeBlanc concluded the segment by noting Canada’s recent passage of the One Canadian Economy Act, an initiative designed to unlock substantial investments in infrastructure and resource sectors, which he believes presents new opportunities for both Canadian and American companies.
He stated, “There’s a great deal to work on together,” underscoring the potential for collaboration amidst ongoing trade challenges.
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