Trump and Trudeau meet at White House to address trade tensions and future ties.

On Tuesday,Global Forex Brokers local time, U.S. President Donald Trump is set to welcome the first face-to-face meeting with Canada's new Prime Minister, Carney, at the White House. This high-level engagement is garnering significant external attention, marking a bid by both countries to seek a breakthrough amid prolonged trade tensions.

This will be Carney's first official visit to the U.S. since taking office as Canada's Prime Minister. According to informed sources, the meeting will focus on the current intricate and tense trade situation, which has had a profound impact on U.S.-Canada bilateral relations and raised widespread concerns in the market and the business community about economic prospects.

According to media reports, Canadian Foreign Minister Mélanie Joly, Minister of International Trade and Intergovernmental Affairs Dominic LeBlanc, and Public Safety Minister David McGinty will accompany the visit, underscoring how seriously Canada is taking this visit.

Trade Dispute Becomes Main Focus

The Trump administration's various tariff measures on Canada, along with Trump's repeated statements threatening Canadian sovereignty, have further strained relations between the two countries. He once publicly stated that Canada should "become a U.S. state," which sparked a strong backlash domestically in Canada.

In an interview with reporters, Trump remarked, "I guess he (Carney) wants to make a deal, everyone does." Despite this softened tone, whether the two sides can achieve substantial breakthroughs in this meeting remains highly uncertain.

Last week, Carney stated that U.S.-Canada relations have undergone a "fundamental change," and he plans to engage in a "difficult but constructive" dialogue with Trump. He also cautioned against expecting a new trade agreement to be reached in the short term, noting that "The U.S. has imposed tariffs on many of our products, and we have retaliated."

Carney made it clear that the core of this meeting will be the current urgent trade issues and the strategic discussion on the future economic and security cooperation framework between the U.S. and Canada.

Possible Reopening of North American Trade Agreement Negotiations

There is widespread anticipation that both the U.S. and Canada might seize this high-level contact opportunity to lay the groundwork for renegotiating the U.S.-Mexico-Canada Agreement (CUSMA). This agreement was originally a trilateral trade agreement brokered under Trump's leadership, covering the three countries of the U.S., Mexico, and Canada.

U.S. Stance Complex: Official Says Negotiations "Unlikely to Be Perfect"

U.S. Commerce Secretary Howard Lutnick will also attend this meeting, and he admitted in an interview on Monday, "Reaching an agreement with Canada will be very complicated... I just feel the outcome might not be perfect."

He further criticized Canada for long "eroding" U.S. interests, questioning why the U.S. should produce cars and films in Canada. "They thrive on us," Lutnick bluntly stated.

The U.S.-Canada film industry has been highly interconnected for a long time, as Canada attracts numerous Hollywood crews with tax incentives and low production costs. Against this backdrop, Trump announced last Sunday that he would impose a 100% tariff on overseas-produced films, aiming to extend the trade war to more industries.

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