The US and Canada are talking trade. That doesn’t mean they’re near a deal.
Washington and Ottawa have intensified their discussions over the past week, but have yet to offer concessions.
The United States and Canada are engaged in renewed trade talks, but this does not necessarily mean a deal is imminent. President Donald Trump and Prime Minister Mark Carney last spoke by phone on October 21, sparking a surge in communication between Commerce Secretary Howard Lutnick and Canadian Trade Minister Dominic LeBlanc. The primary focus of these discussions has been on the tariffs imposed on sectors like automobiles and steel, which have been a major point of contention for Canada.
Despite the increased interaction, the talks remain informal, with no concrete concessions or breakthroughs reported. Both the U.S. and Canada have lingering demands, including lower auto tariffs for the U.S. and increased access to Canadian alcohol and dairy markets for the U.S. While the White House has claimed that a deal is close, Canadian Prime Minister Carney, who has faced limited political pressure to make concessions, is not in a hurry.
Additionally, Canada is preparing for a significant summit with European Union leaders in Montreal, which could serve as a counterweight to the U.S. In the near term, any resolution between the two countries is expected to be weeks or months away, with both sides aiming to stabilize their largest trading relationship.
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