Carney says Trump moving closer to Canada’s trade demands as midterms loom
Summary
Canadian Prime Minister Mark Carney said trade talks with President Donald Trump’s administration have intensified slightly, but Canada has not changed its demands. He said any progress reflects Washington moving closer to Canada’s position, while Trump has suggested a deal could come before the U.S. midterm elections.Key Facts
- Canada rejected U.S. terms in August, with Carney saying they crossed Canadian red lines.
- Trump imposed 50% tariffs on about $20 billion in Canadian goods after the talks stalled, prompting Canadian retaliation.
- Trump said Friday that he would lift some tariffs on Canadian goods while adding tariffs on dozens of other products.
- Trump has said a trade agreement could be reached before the midterms, though he also said it might take months.
- Tariffs have become an issue in closely watched U.S. Senate races, and Republican candidates have called for easing them.
- The United States buys millions of barrels of Canadian oil each day; excluding energy, the U.S. runs a trade surplus with Canada.
- Carney is seeking new export markets and aims to double Canadian exports outside the United States over the next decade.
- Carney plans to host European Union leaders in Montreal to discuss closer economic and security ties.
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