US and Canada seek cuts to steel and car tariffs
The US and Canada are working to lower hefty tariffs (currently up to 50% on Canadian steel and 25% on cars) that have been straining trade between the two countries.
These talks are picking up speed as trade tensions mount and pressure grows on Republicans, where trade issues could sway voters.
Trump would raise tariffs to 50%
Negotiations had stalled back in August, but now there's real progress.
Canadian Prime Minister Mark Carney says the US is coming closer to their position, while Commerce Secretary Howard Lutnick is involved.
The stakes are high: if no deal is reached, Trump would raise the tariffs on steel and auto imports from Canada to 50% from January 1, 2027.
Meanwhile, the US wants more concessions from Canada to address concerns from American industries and political leaders, especially with election results on the line.