Canada's top trade officials are warning they will pull out of USMCA renegotiation talks altogether if the Trump administration follows through on a threat to impose 50% tariffs on a wide swath of Canadian goods starting Aug. 19 — a deadline now just five days away.

Canadian Trade Minister Dominic LeBlanc met Thursday in Washington with U.S. Trade Representative Jamieson Greer, his fourth sit-down with Greer in three weeks, alongside chief negotiator Janice Charette. "Negotiations are ongoing, and we continue to advance Canada's interests," LeBlanc said afterward, though officials familiar with the talks say Ottawa's patience is wearing thin.

The Trump administration has justified the threatened tariffs — which would hit Canadian autos, dairy and alcohol, among other goods — by citing three executive orders that point to provincial boycotts of American alcohol, Canadian retaliatory tariffs on U.S. vehicles and auto parts, and dairy import quotas under Canada's supply-management system.

Billions of Dollars, Millions of Jobs

The stakes are enormous on both sides of the border. Analysts cited in Canadian coverage of the talks estimate a full breakdown in trade relations could cost Canada more than 100,000 jobs, with U.S. job losses potentially more than double that given the scale of integrated supply chains, particularly in the auto sector.

Canada has already offered concessions, easing some dairy restrictions and dropping several provincial alcohol boycotts, but people familiar with the negotiations say Washington is pushing to keep tariffs in place on vehicles and auto parts even as other duties are negotiated down — a sticking point Ottawa considers a non-starter.

"NEGOTIATIONS ARE ONGOING, AND WE CONTINUE TO ADVANCE CANADA'S INTERESTS."

Trump first floated the 50% tariff figure in early August, framing it as leverage to force Canada into a broader rewrite of the trade pact that would favor American companies and squeeze Chinese components out of North American supply chains. Formal three-way USMCA renegotiation talks involving Mexico have not yet begun, complicating the picture further as the bilateral U.S.-Canada deadline approaches.

Canadian officials say they still hope to reach a deal before Aug. 19 as part of what one described as a phased trade strategy, but they are not ruling out walking away from the table if Washington will not soften its position on autos. Markets in both countries are watching closely, given how deeply integrated auto manufacturing supply chains are across the border — a disruption could ripple through plants in Ontario, Michigan and beyond within days of any tariff taking effect.