Trump says a Canada trade deal is coming 'very soon' — Carney says not quite yet

U.S. President Donald Trump said Tuesday the United States is close to a trade deal with Canada, telling Fox News the agreement would come very soon and would be a great deal for American farmers. According to Reuters, Trump said Canada would provide fertilizer to the United States without tariffs as part of the arrangement.

The two countries have imposed billions of dollars in tariffs on each other in recent months, Reuters reported, and the dispute has become a live issue in northern U.S. border states such as Michigan and Maine ahead of Tuesday's midterm elections.

Prime Minister Mark Carney struck a more cautious note later Tuesday, telling a news conference at the end of the Commonwealth summit in St. John's, Antigua and Barbuda, that progress had been made but the deal was not finished. Reuters reported Carney said Washington had withdrawn some earlier demands, including one that would have given the United States a final say over trade deals Canada might seek with other countries.

Carney described the state of play as Washington asking for less and offering more, while making clear the two sides were not quite there yet, according to Reuters.

The two leaders had spoken on Sunday about a trade deal, with Trump saying it would be great for American farmers and Carney saying on X that their teams would work in the coming weeks to deliver an outcome, Reuters reported.

What it means for Canadians

For Canadian exporters, the gap between the two leaders' messages is the story: a deal that eases tariffs would lower costs for businesses on both sides of the border, but no terms have been published and no timeline beyond "very soon" has been offered. Until text exists, Canadian farmers, manufacturers and retailers are still operating under the tariffs already in place — and watching whether the midterm results change Washington's negotiating room.