U.S. Ambassador to Canada Says U.S.-Canada Trade Negotiations Face Headwinds

LootboxPhobia · 2026-03-12T19:02:56+00:00

Investing.com -- U.S. Ambassador to Canada Pete Hoekstra said Thursday that Washington wants to renegotiate the USMCA, but faces resistance from Canada as the July 1 mandatory review date approaches.Hoekstra said at the Canadian Crop Conference in Toronto that the U.S. believes the USMCA (known as CUSMA in Canada) is functioning well, but there have been no substantive negotiations between the U.S. and Canada since October of last year."I think we want to reach an agreement, but we're facing some resistance in negotiations," Hoekstra said, pointing to the lack of substantive discussions between the two sides since October.Hoekstra said Canada should do everything it can to secure the lowest tariff category. The U.S. is seeking to build alliances with countries to ensure that if a trade agreement is reached, non-tariff trade barriers will be eliminated.Hoekstra

LootboxPhobia

2026-03-12 19:02:56

Investing.com – U.S. Ambassador to Canada Peter Hoekstra said on Thursday that Washington hopes to renew the US-Mexico-Canada Agreement (USMCA), but as the July 1 deadline for review approaches, the U.S. is facing resistance from Canada.

Hoekstra, speaking at the Canadian Crop Conference in Toronto, stated that the U.S. believes the USMCA (known as CUSMA in Canada) is functioning well, but since October last year, there have been no substantive negotiations between the U.S. and Canada.

Hoekstra said, “I think we want to reach an agreement, but we are facing some resistance in negotiations.” He pointed out that there have been no meaningful discussions since October.

Hoekstra emphasized that Canada should do everything possible to secure the lowest tariff tier. The U.S. is seeking to build alliances with other countries to ensure that non-tariff trade barriers are eliminated if a trade deal is reached.

Hoekstra also mentioned that President Donald Trump has stated that entering the U.S. market will require paying certain tariffs, so the Canadian government and businesses should explain why doing business with Canada at the lowest tariff rate is advantageous.

The ambassador noted that Canada and the U.S. could work more closely in the energy sector. The U.S. has imported large amounts of oil and natural gas from Canada, processes most of this energy domestically, and hopes to expand this partnership.

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