Canada and US say they are finalising a trade deal, but details remain murky

Canada and the United States are nearing the finalization of a significant trade deal, with both leaders expressing optimism about the potential benefits. President Donald Trump and Prime Minister Mark Carney highlighted how the agreement will benefit US farmers and manufacturers, while Carney emphasized that it secures favorable terms for Canada's strategic sectors and provides future trade certainty.

However, the specifics of the agreement, including the concessions made by both nations, remain unclear. Despite this uncertainty, US Trade Representative Jamie Greer stated that the Americans are "very happy" with the recent discussions and plans to brief Congress and US stakeholders on the deal's details. Trump indicated that Canada has agreed to eliminate tariffs on US farmers, though he did not specify which agricultural sectors would be affected. He also hinted at reducing some of the tariffs he had imposed on Canada.

Canadian Trade Minister Dominic LeBlanc congratulated Greer and US Trade Minister Jamieson Greer on the progress made, emphasizing that the deal will reinforce Canada's advantage across its strategic sectors while providing greater trade certainty. LeBlanc further clarified that Canada's dairy supply management program will remain untouched, despite US demands for adjustments.

The negotiations have been ongoing for three days, with both sides aiming to reach an agreement before a series of new 50% tariffs were set to be imposed by the Trump administration. These tariffs have since been halted until the weekend. While polls suggest that many Canadians oppose significant concessions to the US, business organizations from both countries have called for a deal, warning that continued tariffs would harm both economies.