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U.S. and Canada might not reach trade deal, Trump says

CANADA, JUL 25 – President Trump said trade talks with Canada have stalled and tariffs may be imposed after the August 1 deadline, with $64 billion collected in customs duties by June 30.

  • Just days before the Aug. 1 tariff deadline, Trump said `we haven’t been focused on finalizing a trade deal with Canada`, occurring last week.
  • In addition to Canada, he warned of high tariffs on other nations, including Brazil, Mexico, and South Korea.
  • In Ottawa, Carney warned `our objective is not to reach a deal whatever it costs`, while LeBlanc said he was encouraged after talks with U.S. officials.
  • The statement sent ripples through markets as Canada’s main stock index scored a triple-digit gain on Friday.
  • In the coming weeks, European officials warned that if no deal is reached by August 1, the European Union plans to impose a 30% levy on American goods, and Canada will face copper tariffs next month.
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The deadline set by the U.S. President before 35% rates arrives next week.

·Montreal, Canada
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U.S. News broke the news in New York, United States on Friday, July 25, 2025.
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