Final Thoughts
Trump says Canada deal might not happen: Report
Written by Ethan Bernard
July 25, 2025
President Trump said a negotiated deal with Canada might not occur. The result: all existing tariffs, along with those set to take effect on Aug. 1, will stay in place, according to media reports.
“We haven’t really had a lot of luck with Canada,” Trump told reporters on Friday, per an article in Bloomberg.
“I think Canada could be one where they’ll just pay tariffs, not really a negotiation,” the president was quoted as saying. “We don’t have a deal with Canada. We haven’t been focused on that.”
Canada currently faces 50% Section 232 tariffs on steel and aluminum shipped to the US. That is separate from a “reciprocal” tariff rate that Trump could adjust higher next Friday.
The reciprocal tariff would see all non-exempt Canadian exports to the US incur a 35% tariff starting on Aug. 1.
Ethan Bernard
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