Latest U.S.-Canada Trade Talks Yields Progress Toward Pact, Carney Says

By Paul Vieira

OTTAWA--Recent trade talks between the U.S. and Canada has yielded encouraging results although major hurdles remain to be cleared, Prime Minister Mark Carney said Tuesday.

"We have made progress," Carney told Canadian reporters on the sidelines of a meeting of Commmonwealth leaders in the Caribbean. This past weekend, Carney said officials from Ottawa and Washington would work in the coming weeks on a mutually beneficial trade pact.

Talks between the crossborder trading partners on a tariff deal unexpectedly collapsed in August, leading to renewed tension between the U.S. and Canada--through the imposition of hefty tariffs on billions of dollars of goods.

"There are important issues on which we need to make progress," Carney said, without elaborating. He said the U.S. is "asking less and offering more" in this latest round of negotiations.

Trump also spoke over the weekend, and said that Washington and Ottawa have "the concept of a very good deal."

Canada is the lone Group of Seven country without a deal offering relief on tariffs that Trump has imposed during his second term in office. Canadian officials are seeking relief from tariffs of up to 50% on steel, aluminum and automobiles.

Following the collapse of talks in August, Trump threatened to double the current tariff on Canadian-made automobiles to 50% from 25%. Trump administration officials have repeatedly said the U.S. doesn't need cars made in Canada.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

November 03, 2026 17:49 ET (22:49 GMT)