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<\/p>\nCanada and U.S. negotiators are working on the final text of an agreement that would avert new tariffs and smooth over longstanding bilateral\u00a0trade irritants, officials from both countries said on Wednesday.<\/p>\n
U.S. President Donald Trump said he has brokered what he called “a very good deal” with Canada that will work out favourably for both countries, while giving few details on what exactly has been negotiated.<\/p>\n
Prime Minister Mark Carney, meanwhile, said in his own statement on social media there had been “significant progress” with the Americans, and framed the prospective deal as one that will position Canada well compared to other countries also grappling with Trump’s protectionist policies.<\/p>\n
“Canada entered these discussions with the best overall trade terms. We are now moving towards an agreement that reinforces that Canadian advantage, including by securing the best terms in each of Canada’s most important strategic sectors and providing greater certainty about our future trading relationship,” Carney said.<\/p>\n
Carney will convene a meeting of his cabinet on Wednesday afternoon to discuss the deal, according to his official itinerary. Then, Carney and his negotiators will brief the premiers on what’s to come.<\/p>\n
WATCH | Trump says deal is good for U.S. farmers:<\/p>\n
Trump claims certain Canadian tariffs on U.S. goods will be ‘non-existent’<\/p>\n
U.S. President Donald Trump says Canada and the U.S. have reached a ‘very fair deal’ for both countries, after pausing threatened 50 per cent tariffs on a broad range of Canadian goods. Trump says tariffs on U.S. farm goods are ‘going to be eviscerated down to zero,’ when the deal is finalized.<\/p>\n
Trump paused his planned 50 per cent tariffs<\/a> on nearly $30 billion worth of Canadian goods late Tuesday to allow the deal to be finalized.<\/p>\n A Canadian source with direct knowledge of the talks told CBC News that Ottawa was able to get tariffs on some hard-hit sectors reduced in the agreement.<\/p>\n Canada has been demanding relief for the steel, aluminum, auto and lumber sectors weighed down by 25 per cent or higher levies on their goods for more than a year. As previously reported, the U.S. has offered to lower those rates as part of these negotiations<\/a>, but just how low has been a point of contention.<\/p>\n Trump said that farmers and manufacturers in particular are going to be “thrilled” with what he’s agreed to do with Canada.<\/p>\n He said unspecified Canadian tariffs “are going to be totally eviscerated, down to zero.”<\/p>\n The vast majority of U.S. products already trade into Canada tariff-free, but Ottawa has levied some retaliatory tariffs on U.S. autos, steel and aluminum imports since the outset of the trade war.<\/p>\n WATCH | Trump pauses tariffs: Trump pauses 50% tariffs, saying new trade deal reached<\/p>\n U.S. President Donald Trump has paused 50 per cent tariffs on Canada, saying the two countries have reached a new trade deal that just needs to be finalized. In a statement, Prime Minister Mark Carney said ‘substantial progress has been made.’<\/p>\n Canada also has tariffs on some dairy imports that exceed a set quota. But American producers do not export enough dairy to meet Canadian tariff rate quota thresholds<\/a>.<\/p>\n Still, Trump said what’s been negotiated is “great for our farmers.”<\/p>\n “Our farmers will no longer be held up, because they were being hurt very badly by Canada,” Trump said.<\/p>\n Trump said the U.S. has agreed to readjust its tariff rates on Canadian autos but didn’t specify by how much.<\/p>\n The current headline tariff rate is 25 per cent on Canadian automobile imports, a levy that caused significant economic dislocation, plant closures<\/a> and lost jobs<\/a>, particularly in Ontario, Canada’s industrial heartland.<\/p>\n “They were paying a high number, we’re reducing it a little bit,” Trump said of auto tariffs. “You gotta give something.”<\/p>\n While there are outlines of an agreement, Trump said that it’s “still subject to finalization of documents.”<\/p>\n Carney sees ‘significant progress’<\/p>\n Canada-U.S. Trade Minister Dominic LeBlanc met with U.S. Trade Representative Jamieson Greer in Washington on Wednesday morning for more talks.<\/p>\n Speaking briefly to reporters on his way out of the roughly 30-minute long discussion, LeBlanc answered a question about whether Canada’s supply-managed dairy sector, long targeted by U.S. negotiators, will be affected by the terms of this prospective agreement.<\/p>\n WATCH | Canadian, U.S. negotiators answer questions: Greer and LeBlanc speak to reporters as trade talks continue<\/p>\n Speaking to reporters after a meeting in Washington, United States Trade Representative Jamieson Greer said Canada and the U.S. have ‘eliminated some of the irritants we’ve had over the past year.’ Canada-U.S. Trade Minister Dominic LeBlanc said he is ‘very confident’ in discussions about the dairy sector.<\/p>\n “The prime minister was very clear, we need to protect supply management. We need to ensure that the supply management regime remains entirely intact and I’m confident that that’s the case,” LeBlanc said.<\/p>\n A spokesperson for LeBlanc said the minister is headed back to Ottawa to meet with Carney “and take other meetings necessary to finalize trade negotiations.”<\/p>\n Greer framed the forthcoming deal as a win-win.<\/p>\n “We’ve reached an agreement that will not only continue to protect American workers, American jobs, American supply chains, but really strengthen the North American economy and create a situation where North America will continue to be an energy powerhouse, a manufacturing powerhouse,” he told reporters gathered outside his office.<\/p>\n Few details<\/p>\n The details of what exactly has been brokered are scant.\u00a0<\/p>\n Neither side released any documents stating what each country could give up in return for some\u00a0concessions.<\/p>\n Beyond Greer’s assertion that there will be changes to some Canadian policies, Trump alluded to a possible revival of the Keystone XL pipeline, a long-defunct project that could carry oil from Alberta to the U.S. Gulf Coast. Trump already signed an executive order in April authorizing the construction<\/a> of a similar cross-border pipeline.<\/p>\n WATCH | Trump’s order revives parts of pipeline: Trump signs order to revive parts of cancelled Keystone XL pipeline<\/p>\n U.S. President \u200cDonald Trump has signed an order authorizing a proposed project to transport Canadian oil across the border as part of an effort to revive parts of the cancelled Keystone XL pipeline. South Bow, the Canadian company behind Keystone XL, is partnering with U.S. company Bridger Pipeline on the proposed project.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/08\/1787167451_458_default.jpg\")
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