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Carney cautious about report of potential Canadian trade deal with US

Canada seeks relief from U.S. tariffs on steel and aluminum while talks explore reviving the Keystone XL pipeline, with a deal possible at the Asia-Pacific Economic Cooperation summit.

  • Speaking to reporters, Carney said Canada is in intensive negotiations and expects to see U.S. President Donald Trump at the APEC summit in Gyeongju, South Korea this month.
  • The Trump administration imposed tariffs on Canadian steel, aluminum and autos earlier this year, prompting Ottawa to seek relief while talks focus on steel, aluminum and the Keystone XL pipeline.
  • Lead negotiators Dominic LeBlanc, Michael Sabia and Ambassador Kirsten Hillman made significant progress on steel and aluminum over two weeks, with Canada likely accepting steel quotas and critical minerals off the table.
  • A sectoral agreement would offer relief for the Canadian metals industry and ease pressure on Prime Minister Mark Carney, but Carney cautioned he `wouldn't overplay it` as work remains.
  • The APEC summit starts Oct. 29 in South Korea and sources say a meeting between Prime Minister Mark Carney and President Trump could make the difference for a deal.
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Carney cautious about report of potential Canadian trade deal with US

Canadian Prime Minister Mark Carney on Tuesday expressed caution after a newspaper reported he might soon sign a trade deal on steel and aluminum with the U.S., saying "I wouldn't overplay it."

·United Kingdom
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El Economista broke the news in on Tuesday, October 21, 2025.
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