Carney says there’s hope for trade deals with U.S. but ‘don’t expect white smoke’

By Kyle Duggan
The Canadian Press in Business in Vancouver
September 4, 2025
Category: Business & Politics
Region: Canada, United States

Marc Carney

Canada is making progress on “small” tariff deals with the US for key sectors, Prime Minister Mark Carney said after revealing he’d had a recent phone call with U.S. President Donald Trump. Carney said he spoke with Trump “at length” Monday on a wide range of issues, including trade, geopolitics and employment. He described it as a “good conversation” but also warned there is no guarantee Ottawa will secure any of the deals under discussion as the Trump administration works to squeeze the Canadian economy to obtain trade concessions. …While Carney did not specify which key sectors are the subjects of trade talks, the sectors targeted by US tariffs include steel, aluminum, forestry products and automobiles. …Carney’s cabinet met behind closed doors Wednesday at a Toronto hotel — part of its preparations for the upcoming fall sitting of Parliament and for continuing negotiations with the Americans on tariffs. 

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