Negotiations with Trump: As the deadline approaches, the suspense remains

The suspense remains intense just hours before the deadline set by Donald Trump for concluding trade agreements with Canada and the rest of the world. This time, there will be no extension, the unpredictable president assures.

“THE AUGUST 1ST DEADLINE IS THE AUGUST 1ST DEADLINE – IT IS FIRM AND WILL NOT BE EXTENDED. A GREAT DAY FOR AMERICA!!!” he wrote on his social media account, Truth, on Wednesday.

From Ottawa to Washington

After saying on Monday that negotiations with the United States had reached an "intensive phase," Mark Carney sent a delegation to Washington to continue the discussions, the details of which are jealously guarded.

Canada-U.S. Trade Minister Dominic LeBlanc, Ambassador Kirsten Hillman, and even the Prime Minister's chief of staff, Marc-André Blanchard, are among the crowd.

Mr. Carney said Monday that he saw "a landing zone" for the two countries to reach an agreement in time, but declined to go into details.

For Canada, a no-deal scenario could lead to new tariffs of 35% on exports that do not fit into the Canada-United States-Mexico Agreement, representing approximately 10% of our exports.

The upheaval continues

Donald Trump continued his efforts to transform the global economic system on Wednesday with sweeping statements and executive orders.

He passed a decree imposing 50% tariffs on copper effective Friday, sending copper prices plummeting on the New York Metal Exchange.

However, contrary to expectations, the United States limited the surcharge to goods made from copper, rather than on the raw material, limiting the damage to the Canadian mining industry.

Donald Trump also unexpectedly announced additional 40% tariffs on Brazil, the South American economic giant whose current government, he claims, is conducting a "witch hunt" against former right-wing president Jair Bolsonaro.

This would bring the tariffs imposed on Brazil to 50% as of Friday. In an interview with the New York Times , President Lula da Silva said there was "no reason to be afraid."

"[...] At no time will Brazil negotiate as if it were a small country facing a large country. Brazil will negotiate as a sovereign country," declared the left-wing president.

In other news, he threatened India with 25% tariffs on all exports and promised to cancel the tariff exemption that covered imports of products under US$800 sent outside the postal system.