U.S. Ambassador to Canada, Pete Hoekstra, expresses optimism about the possibility of soon reaching a fair and mutually beneficial trade agreement between the two countries under the leadership of President Donald Trump and Prime Minister Mark Carney.
He emphasized that the negotiation teams of both sides have been working diligently towards a result that both the U.S. and Canada can proudly present to their citizens, creating a sustainable and developing trade relationship.
MAIN CONTENT
The bright spot in U.S.-Canada trade negotiations is reflected in the commitment of the leaders of both countries and the professional negotiation teams.
Canada's withdrawal of the digital services tax with the U.S. paves the way for cooperation and boosts negotiations.
The agreement is expected to conclude on July 21, promising to strengthen effective bilateral trade relations.
Why does U.S. Ambassador Pete Hoekstra express optimism about trade negotiations with Canada?
Ambassador Pete Hoekstra, a former U.S. congressman from Michigan – a state with close trade relations with Canada, believes that the negotiations will succeed and create a 'win-win' situation for both sides. The negotiation teams authorized by the leaders of the two countries focus on resolving differences to create mutual benefits.
"When the agreement is signed, each leader can proudly tell their citizens about a great deal for their country."
Pete Hoekstra, U.S. Ambassador to Canada, 4/7/2024
Trump signed the North America trade agreement with Canada and Mexico during his first term, but later imposed tariffs on steel, aluminum, and other goods originating from Canada, leading to retaliatory tariffs from Canada on tens of billions of dollars of U.S. goods. This difference slowed down the negotiation process and increased trade tensions.
What is the reason for Canada's withdrawal of the digital services tax with the U.S. and what is the impact?
Canada's sudden cancellation of the digital services tax on U.S. technology corporations has reopened the door for negotiations. This information comes from White House economic advisor Kevin Hassett, stemming from a call between Prime Minister Carney and President Trump.
White House official Karoline Leavitt affirmed that this is a major victory for U.S. technology companies, while praising President Trump's aggressive negotiation strategy.
"Canada was wrong to impose taxes that negatively affect the technology sector. The U.S. has always sought to promote strong trade relations with other countries."
Karoline Leavitt, White House Press Secretary, 6/2024
The withdrawal of tariffs has increased confidence in the U.S. stock market, enhancing the prospects for favorable negotiations with key trading partners, especially Canada.
What are the deadlines and prospects for reaching a U.S.-Canada trade agreement?
Both countries agreed to set a deadline of July 21, 2024, to finalize the agreement, with the hope of creating a more stable cooperation framework. Ambassador Hoekstra believes that once negotiations conclude, the economic relationship will be stronger and more effective than at the outset.
Economic experts assess that this is a critical time to adjust tax policies and promote bilateral free trade, contributing to economic growth and job creation for both sides.
Frequently Asked Questions
What impact does the U.S.-Canada trade agreement have on consumers?
Reducing tariff barriers will help make prices of goods more reasonable, improve product choices, and promote economic development.What has Canada retaliated against the U.S. with?
Canada imposed tariffs of tens of billions of dollars on cars and many consumer goods from the U.S. in retaliation for U.S. tariffs on steel and aluminum.What does the cancellation of the digital services tax mean?
The cancellation of the tax helps bridge the gap and reopen negotiations, relieving pressure on U.S. technology corporations and improving market sentiment.How long can the two countries reach an agreement?
Both sides aim to reach an agreement by the end of July 2024, with professional negotiation teams supporting them.Does U.S.-Canada trade necessarily have to change tariffs?
Appropriate tariff changes are necessary to boost industry and minimize trade confrontation, creating a stable investment environment.
Source: https://tintucbitcoin.com/bitcoin-ethereum-sap-co-thoa-thuan-thuong-mai/
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