Canada and the U.S. are close to a trade deal, according to U.S. President Donald Trump. Asked about progress toward a deal with Mexico, Trump said during a scrum with reporters in Washington that his administration is “very close” to a “very good” deal. “The same thing with Canada. Canada’s working very hard to make a deal with us. And I hate to say this, but we have all the cards,” he said. Progress on the Canada-U.S. trade file has been relatively opaque since talks fell apart in August. Sources told CTV News this week that Prime Minister Mark Carney’s advisory committee on U.S. economic relations convened its first meeting in over a month and a half on Thursday. CTV News also confirmed that Canada-U.S. Trade Minister Dominic LeBlanc is in Ottawa on Friday, when he was expected to attend an infrastructure-related event in his New Brunswick riding. Carney quips ‘we could sign it this afternoon’ During an overnight press conference in Istanbul, hours before Trump’s comments, Carney said Canada was “continuing to engage with the U.S. government.” “We continue to be ready to sit down in good faith to negotiate a trade deal that is in both of our interests. Of course, we’re looking for the interests of Canadians, we don’t care about the timing of that,” he said. “We could sign it [a deal] this afternoon if the U.S. were there. If it has to be months from now or longer than that, or another administration before a proper deal comes into place, we would do that,” the prime minister told reporters. Pressed on how much the timing matters, Carney said Canada would “drop everything” if the Americans were ready to negotiate in good faith, but the chance of that happening before the midterms is “up to the United States, they’re a little hard to predict.” The two men spoke on Wednesday “for quite some time,” according to the prime minister. Sources have indicated to CTV News that Canadian officials haven’t ruled out the possibility of a snap trade deal before next month’s midterm elections in the U.S., but hope remains faint. Meanwhile, Washington’s envoy in Ottawa has accused senior Canadian leadership of political interference ahead of those elections. The claims surround various officials’ activities south of the border. Among those named was Industry Minister Melanie Joly, who on Thursday refuted the claims. She made the remark after warning a U.S. company to reverse course on a plan to lay off 500 Ontario steel workers. Stelco, in Hamilton, is owned by an Ohio-based company called Cleveland-Cliffs. Its CEO, Lourenco Goncalves, has previously publicly supported Trump’s tariff policy. In March 2025, U.S. President Donald Trump hit Canada’s steel and aluminum sector with 25 per cent tariffs, then in June of that year, his administration increased those tariffs to 50 per cent. It’s just one sector among many affected by Trump’s expansive tariff regime. Canada has put counter-tariffs covering $27.6 billion in imports from the U.S., with an emphasis on steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. With files from CTV News Ottawa Bureau Correspondent Jeremie Charron.
