U.S. wants to ditch trade status quo, Lutnick says after Canadian talks – National [Video]

The United States wants to pursue “fair trade” with Canada but says its goal is to “eliminate the status quo” of trade measures it says restrict American exports, U.S. Commerce Secretary Howard Lutnick said in a statement after meeting Canadian officials on Thursday.

Finance Minister Dominic LeBlanc, Ontario Premier Doug Ford, Industry Minister François-Philippe Champagne and Canadian Ambassador to the United States Kirsten Hillman met with Lutnick and U.S. Trade Representative Jamieson Greer on Thursday.

Lutnick said in a read-out issued Thursday night: “By building balanced and fair relationships that eliminate the current status quo of overwhelming trade deficits and crushing foreign restrictions, the Trump Administration will help U.S. companies, large and small, prosper in the global marketplace.”

The trade deficit for the U.S. with Canada is because of the high energy needs of the U.S. economy.

Without Canadian energy exports, the trade relationship is reversed. The U.S. enjoys a trade surplus of around $60 billionin its relationship with Canada …