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The clock’s ticking on the 30-day U.S.-Canada trade deal deadline.

Prime Minister Mark Carney and U.S. President Donald Trump launched the month-long sprint to negotiate a new “economic and security relationship.” The two leaders also discussed other matters including critical minerals and defence during their meeting on the sidelines of the G7 Summit in Kananaskis, Alberta.

Several Canadian sectors, including auto manufacturing and steel and aluminum, are reeling from tariffs imposed by the U.S. government. Bank of Canada Governor Tiff Macklem also warned recently that inflation could rise if the tariffs remain in place for an extended period of time. Meanwhile, households and businesses will likely remain cautious, and, at some point, more businesses could start cutting jobs, the governor warned.

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