Products covered under the USMCA trade agreement, which includes roughly 90% of Canadia exports, are exempt from the 35% tariffs Trump announced Thursday.

Those under CUSMA are exempt from the tariff. More on Canada Trump raises tariffs on Canada to 35% with no trade deal in sight What happens on Aug. 1 if Canada can’t get a trade deal with Trump? Canadian job vacancies fell to a near 8-year low amid hiring freezes Here is the full transcript of Carney's response,