U.S. Commerce Secretary Howard Lutnick said discussions on a trans-Atlantic trade pact remain wide open, with contentious areas such as steel, aluminum, digital services and tax policy still unresolved. "There is plenty of horse trading left to do," he told reporters, adding that metals, excluded from the current draft, will be revisited in a later stage of the U.S.–EU talks. Separately, Lutnick warned that a 35% tariff on Canadian imports not covered by the existing USMCA agreement is still “on the table” ahead of the Aug. 1 deadline set by President Donald Trump. In a Fox Business interview, he put the odds of a formal tariff notification letter at roughly 35%, saying the duty could be averted if Prime Minister Mark Carney meets U.S. demands. Trump has suggested he may scale back tariffs should Ottawa comply.