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US: Canada Not Confident Of Tariff 'Off-Ramp' - NYT

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Matina Stevis-Gridneff, Canada bureau chief at the New York Times, reporting on X: "Senior Canada govt official tells me situation is in flux for Canada after the Trump-Trudeau call this morning and ahead of their followup call at 3pm, but that they are not optimistic that a real off-ramp from tariffs exists for Canada the way it materialized for Mexico.
  • The Times reports separately that the US-Mexico deal appears to have come together with a package of proposals from Mexico to recalibrate its trade practices within the existing USMCA trade agreement.
  • NYT notes that Sheinbaum said at her news conference that Trump brought up the US trade deficit with Mexico: “I told him that, in fact, it was not a deficit, that we had a trade agreement, that we are trade partners.” she added, according to the Times, that the current U.S.-Canada-Mexico trade agreement was “the best way” to continue competing against China and other regions of the world.
  • The Times continues: "Mexico will also focus on expanding an import substitution plan, dubbed Plan Mexico... The program essentially seeks to curb imports from countries like China, start producing those goods in Mexico and strengthen Mexican industries..."
  • Taken together with stronger measures on border security, which Canada has already begun implementing, the deal appears to offer a blueprint for Canada to resolve the dispute before the tariffs come into effect tomorrow. 
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Matina Stevis-Gridneff, Canada bureau chief at the New York Times, reporting on X: "Senior Canada govt official tells me situation is in flux for Canada after the Trump-Trudeau call this morning and ahead of their followup call at 3pm, but that they are not optimistic that a real off-ramp from tariffs exists for Canada the way it materialized for Mexico.
  • The Times reports separately that the US-Mexico deal appears to have come together with a package of proposals from Mexico to recalibrate its trade practices within the existing USMCA trade agreement.
  • NYT notes that Sheinbaum said at her news conference that Trump brought up the US trade deficit with Mexico: “I told him that, in fact, it was not a deficit, that we had a trade agreement, that we are trade partners.” she added, according to the Times, that the current U.S.-Canada-Mexico trade agreement was “the best way” to continue competing against China and other regions of the world.
  • The Times continues: "Mexico will also focus on expanding an import substitution plan, dubbed Plan Mexico... The program essentially seeks to curb imports from countries like China, start producing those goods in Mexico and strengthen Mexican industries..."
  • Taken together with stronger measures on border security, which Canada has already begun implementing, the deal appears to offer a blueprint for Canada to resolve the dispute before the tariffs come into effect tomorrow.