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Trump says US is close to making a trade deal with Canada
Trump said the deal would cut tariffs on Canadian goods and help farmers as talks resume after earlier negotiations collapsed.
On Sunday, President Donald Trump and Prime Minister Mark Carney resumed trade negotiations, with Trump characterizing progress as a "concept of a deal" benefiting both nations.
Negotiations previously collapsed in August after U.S. Commerce Secretary Howard Lutnick introduced last-minute demands on metal tariffs, prompting both nations to impose retaliatory duties on $28-billion in goods.
Under earlier frameworks, steel and aluminum tariffs would have fallen to 25 per cent from 50 per cent, auto tariffs to 15 per cent from 25 per cent, while Canada considered restocking U.S. alcohol and removing procurement restrictions.
Lutnick, described by sources as the "driving force" behind the re-engagement, initiated talks over the past 10 days coinciding with pressure ahead of Tuesday's midterm elections.
Teams are working in coming weeks to deliver an agreement, though Canadian sources remain skeptical the administration will compromise on auto sector demands that stalled earlier discussions.
The United States is close to concluding a trade deal with Canada - Trump said that the United States will soon conclude a trade <p>deal with Canada. Countries have exchanged tariffs for billions in recent months
dollars.</p>