- 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
- There is tremendous value in negotiations with the US
- Will only agree to a deal in best interest of Canadians
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%.
