The U.S. and Canada are making progress on a trade deal and have exchanged a working document highlighting trade requests and policies, according to Canada’s CBC. The document has been sent back and forth between the two sides, said sources close to the matter.
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The sources also warned that more time would be needed before an agreement could be reached, adding that the Group of Seven (G7) Leaders’ Summit, which begins on June 15, will not serve as a deadline.
Canada Willing to Commit to Defense, NATO Spending, Sources Say
In addition, one source added that the document is currently less than five pages. It reportedly includes commitments from Canada to join the U.S. Golden Dome program, increase border security investments, and meet its North Atlantic Treaty Organization (NATO) defense spending target. What Canada expects in return isn’t known, although it will likely include a lower tariff rate.
The iShares MSCI Canada ETF (EWC) is rising on the news, bringing its year-to-date return to a solid 13.52%.
