Mark Carney Announces Progress in Canada-U.S. Trade Talks

Prime Minister Mark Carney announced progress in trade negotiations with U.S. President Donald Trump following a collapse in talks during August. The discussions involved U.S. Trade Representative Jamieson Greer and White House Chief of Staff Stephen Miller to resolve a trade war involving 50% U.S. tariffs on 20 billion Canadian dollars of goods and subsequent Canadian retaliatory measures.

Carney stated that while a bilateral deal is possible, Canada will not accept terms that undermine its auto industry. He noted that the two nations are making progress but have not yet reached a final agreement.

To reduce economic dependence on the United States, Canada is diversifying its trade partnerships in Asia. The government has substantially concluded free-trade negotiations with the Association of Southeast Asian Nations and completed separate negotiations with the Philippines. These agreements, expected to be signed next year, are projected to add nearly 2 billion Canadian dollars to the economy.