Negotiators in Washington raced the clock Friday to finalize a trade deal that would spare American consumers from steep price hikes on Canadian imports set to begin at midnight. President Trump expressed cautious optimism but offered no confirmation that an agreement had been reached.
The 50% tariffs scheduled to take effect at 12:01 a.m. Saturday would hit roughly $20 billion worth of goods including hockey equipment, wine, and agricultural products. As of 5:30 p.m. Friday, negotiators had yet to emerge from the Office of the U.S. Trade Representative with a final deal.
Trump Backs Off Earlier Claim of Done Deal
“I think so. We’ll see,” Trump told reporters Friday afternoon when asked if the countries had reached an agreement. “The deal with Canada is moving along. We should be able to have a deal with Canada.”
The hedged response marked a shift from Tuesday, when Trump declared the two nations “have a deal” that merely needed finalizing. Before boarding Air Force One, he emphasized agricultural concerns as a key sticking point. “We have to take care of our farmers. Our farmers are very important to me.”
What’s at Stake for American Families
The tariffs would immediately raise prices on everyday items Americans buy from their northern neighbor. Wine drinkers would see costs jump at checkout. Parents buying hockey gear for their kids would face sticker shock. The duties could also disrupt supply chains for manufacturers who source Canadian materials.
Canada confirmed Friday afternoon it’s still working to “resolve outstanding trade issues” through “intensive discussions” for “the mutual benefit of both countries.” The diplomatic language suggested significant gaps remain despite the looming deadline.
If talks collapse, American businesses importing Canadian goods will have hours to decide whether to rush shipments across the border before midnight or absorb the 50% cost increase. The uncertainty leaves retailers, distributors, and manufacturers scrambling to plan for Saturday morning.
Key Points
- 50% tariffs on Canadian goods including wine and hockey equipment take effect at 12:01 a.m. Saturday without a deal
- Trump softened earlier claims of a completed agreement, saying only “we should be able to have a deal”
- Negotiations continued past 5:30 p.m. Friday with no final agreement announced
https://www.cnbc.com/2026/08/21/trump-canada-tariffs-trade-deal-deadline.html – August 21, 2026
