With the U.S. Capitol in the background, Canadian Prime Minister Mark Carney speaks to reporters after his meeting with U.S. President Donald Trump, during a press conference at the Canadian Embassy in Washington, D.C., on May 6, 2025. Kevin Lamarque/Reuters
Prime Minister Mark Carney says he is “disappointed” by the U.S. decision to raise tariffs on Canada, but that Canada retains one of the lowest average tariff rates globally due to many products being exempt under the United States-Mexico-Canada Trade Agreement (USMCA).
“While the Canadian government is disappointed by this action, we remain committed to CUSMA [USMCA], which is the world’s second-largest free trade agreement by trading volume,” Carney said in a July 31 press release.
