Carney says Canada and the US will work on a trade deal in ‘coming weeks’ after a ‘good conversation’ with Trump

Canadian Prime Minister Mark Carney said Sunday he had a “good conversation” with US President Donald Trump on trade^2,3. Carney said the two sides’ teams would work on a deal in the “coming weeks”². He said both sides would work on a “mutually beneficial” US-Canadian trade deal¹, and that the two countries would outline a trade plan in the coming weeks¹.

Carney described the call as constructive and focused on a potential trade deal^6,8. He said the conversation built on earlier ones about what a mutually beneficial deal looks like⁵. He spoke of the future of trade between the two countries^10,13, and said the talks would continue^9,10. Carney held discussions with Trump on a bilateral trade deal, one account said¹².

Context

The call came days before the US midterm elections on Tuesday^6,11. The Canada-US trade talks it addressed had stalled¹³. Carney reported progress in those talks^6,11. He said the conversation covered what a mutually beneficial deal would look like, and that the work will now be carried forward by the two sides’ teams^2,5. Carney and Trump attended a working lunch with leaders of the G7 and the Middle East in Evian-les-Bains, France⁹.

Friction has not disappeared. Lutnick and US Trade Representative Jamieson Greer quickly pushed back on Canada’s claims about French language discoverability⁴. Carney said in October that he did not know if Trump would honour a new trade deal⁷. The call took place ahead of Canada’s budget day⁷.

Why it matters to investors

Carney’s statement points to a plan being outlined for talks that had stalled^1,13. The account so far comes from Carney, and it describes an intent to work on a deal, not an agreement^2,5. The timeline he gave, the coming weeks, is short^1,2.

The US side’s response on the language issue shows that specific disputes remain open even as the leaders speak warmly of the talks⁴. Carney’s own doubt over whether Trump would honour a deal leaves open how durable any deal would be⁷.

What to watch: whether US officials confirm the plan and set out terms, and how Canada’s budget treats trade with the US^1,7. The result of Tuesday’s US vote is a further marker for the talks¹¹.