Canada PM Carney: We stand ready to sit down with the US

• No contact with Trump since Thursday
• Ready to sit down when the US is ready to sit down
• We are always ready to do this
• There were series of detailed very specific discussions up until the point Ontario ads ran
• Ready to pick up on those discussions when the US is
• We provide essential goods to US economy and create room for them
• There is a very strong trading relationship with the US
• We are not resting because the opportunities internationally are considerable
• We have contingency plan if Trump doesn’t want to negotiate
• Regarding the Ontario ad situation: have to keep your cool in these situations, doesn’t pay to be upset
• Expect to meet China’s Xi at the APEC Summit
• Will discuss with Xi commercial relationship and evolution of global system
• Haven’t seen specifics about the additional 10% US tariff

As a reminder, Trump terminated negotiations with Canada last week because of an ad. The market didn’t really freak out on this as everyone got used to Trump’s “escalate to de-escalate” strategy.

Over the weekend, Trump increased tariffs on Canada by 10% over what they are paying now. The USMCA tariffs are zero but a small portion of trade not covered by that is paying anywhere from 15-50%.

This article was written by Giuseppe Dellamotta at investinglive.com.