U.S. President Donald Trump says the U.S. and Canada are “very close” to reaching a new trade deal.
Speaking to the media over the weekend, Trump said his administration has the “concept of a very good deal with Canada.”
“I spoke with the prime minister the other day. I spoke to him again yesterday, and we have the concept of a deal that’s going to be great for our farmers, great for our country, and it’ll be fine for Canada too,” added Trump.
A statement released by the White House on Nov. 1 said the Trump administration “welcomes continued engagement with Canada” as they work towards finalizing details of a trade deal.
The comments come after Canadian Prime Minister Mark Carney said he had a “good conversation” with Trump on trade relations.
On social media, Carney said the talk builds on “recent constructive discussions” on a prospective Canada-U.S. trade deal.
The comments concerning a potential trade deal also come ahead of the Nov. 3 midterm congressional elections in the U.S.
Trade tensions and reciprocal tariffs from Canada have become a big issue in the U.S. election in border states such as Maine and Michigan.
Some pundits and pollsters are predicting a Democratic resurgence in the midterm elections that could see a Congressional check on Trump’s use of executive powers.
Polling shows Democrats are favoured to take the House, where a net gain of three seats would give them a majority. The future of the Senate remains up in the air heading into voting.
Canada has been an ongoing target of the Trump administration, which has levied tariffs of as much as 25% on Canadian steel, aluminum and automotive parts.
Trump has threatened to increase many of the tariffs on Canadian goods to 50% in January 2027 unless the two countries reach a new trade agreement.
Trump has also threatened to make Canada the 51st U.S. state and signed an executive order to rename Lake Ontario as “Lake America.”
Carney and his government have responded with tit-for-tat reciprocal tariffs on a variety of U.S. imports, which has drawn anger from American farmers and businesses.
