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Speaking in Mexico City, Bank of Canada's Tiff Macklem previewed some of the issues being considered in the coming review of the central bank’s monetary policy framework.  

“We are looking, I hope, for an agreement that will put us in a better position than we are right now,” Dominic LeBlanc said Aug. 25 in a French-language radio interview.

But the government is likely to keep 25% import taxes on U.S. steel and aluminum products, as well as its tariffs on U.S. automobiles.

The two leaders talked about “trade challenges, opportunities, and shared priorities in a new economic and security relationship between Canada and the U.S.,” according to a statement.

Industry Minister Melanie Joly's Sweden visit is part of a push by the Carney government to strengthen ties with European partners and reduce its reliance on the U.S. for trade and security.

Canadian PM Mark Carney is expected to meet with Mexican President Claudia Sheinbaum to discuss reinforcing supply chains and key infrastructure to grow bilateral trade.

Trump’s imposition of 25% tariffs on foreign vehicles has disrupted the long-standing system that mostly allowed the free flow of vehicles and parts across the three North American countries.

The U.S. lumber industry says financial support pledged by Canada to domestic forestry companies risks deepening the neighbors’ long-running trade dispute and may result in yet more import taxes.

The drop in U.S. travel underscores Canadians’ resentment toward their southern neighbor, who is their biggest trading partner and was once their favorite vacation destination. 

More than 1,200 truckers have been removed from U.S. highways since late June for being unable to communicate adequately in English or read English-language highway signs.