US-Canada tariff clock ticks: Last-minute talks to avert Trump’s 50% tariffs

The United States and Canada are in a race against the clock to reach a tariff agreement before a 12:01 am Wednesday deadline imposed by US President Donald Trump.Failure to strike a deal could see Trump impose 50% tariffs on $20 billion worth of Canadian products, including everything from hockey sticks to tongue depressors.Canadian Prime Minister Mark Carney confirmed that the talks were underway earlier on Monday, but gave little away about the negotiations.″We are negotiating,” Canadian Prime Minister Mark Carney told reporters Monday, speaking in French. “The negotiations are very intense and delicate. This is not the time to talk about negotiations in public.”Carney and Trump also spoke by phone Monday afternoon about the trade negotiations, according to Carney's office, as both sides sought to make progress before the deadline.Old trade disputes, new tensionsTrade disagreements between the US and Canada are not new.