Canadian minister says Canada, US far apart on draft trade deal, source says

The tariffs would cover nearly $20 billion of Canadian goods, or about 5.2% of Canada's exports to the U.S.

Unlike many of Trump's earlier tariffs, the new duties would apply to products that qualify for preferential treatment under the U.S.-Mexico-Canada Agreement, posing an added risk to Canada's economy.

LeBlanc said in a briefing to the Advisory Committee on Canada-U.S. Economic Relations that meetings are happening with his U.S. counterparts on a daily basis, the source said.

"They said they're quite far away from an agreement that the Prime Minister can sign off on," the source said. "In negotiations like this, nothing is agreed until everything is agreed."

The source added that LeBlanc told the committee the two sides are meeting at a technical level constantly but have not yet reached agreement on key issues.

Gabriel Brunet, a spokesperson for LeBlanc, declined to comment.