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President Trump says a deal to end the trade standoff with Canada is within reach — and it includes a major win on energy.
Speaking to reporters Sunday after landing in Dubuque, Iowa, for a campaign rally, the president said his administration and Canadian officials are “very close” to an agreement.
“We have the concept of a very good deal with Canada,” Trump said.
The president said he spoke with Canadian Prime Minister Mark Carney on Saturday, and that the framework under discussion would be “great for our farmers, great for our country, and it’ll be fine for Canada, too.”
Trump also made clear he believes America has been on the losing end of the relationship for too long.
“We’ve been losing money for many years with Canada, many, many years,” he said. “So we are now very close to having a deal.”
Asked whether the Keystone Pipeline would be part of the agreement, Trump said Canada would build the project and “pay for all of it.”
Carney confirmed the conversation in a post on X, describing it as a good discussion about the future of trade between the two countries. The prime minister said the call built on recent constructive talks about the outlines of a mutually beneficial deal, one that he said would create jobs, improve affordability for families and respect Canada’s languages, culture and sovereignty. Carney added that both sides’ teams would work toward an agreement in the coming weeks.
The optimism marks a shift from just days ago. Carney said last week that Canada was not yet in a position to reach a trade deal with the Trump administration, and Ottawa had previously reported limited progress despite efforts to ease tariffs on steel and autos.
Talks broke down in August, after which the Trump administration imposed 50% duties on $27.6 billion worth of Canadian goods. Canada retaliated with tariffs ranging from 15% to 50% on more than $20 billion in American products.
The trade fight has hit Canada’s steel, aluminum and auto industries particularly hard, though most Canadian exports still enter the U.S. duty-free under the U.S.-Mexico-Canada Agreement.
Trump first touted a revival of the Keystone XL pipeline back in August, when he declared on Truth Social that the U.S. and Canada “have a DEAL!”
Meanwhile, pressure is building on Carney at home. Canadian Conservative Party leader Pierre Poilievre urged the prime minister Sunday to “get a great deal,” arguing that everyday Canadians cannot afford to keep waiting.
Carney has also been working to reduce Canada’s reliance on its southern neighbor. Canada and the European Union launched a new partnership on Friday, with Carney seeking to make Canada the bloc’s first “associate member” and to double exports to countries other than the United States over the next decade.
A spokesperson for Dominic LeBlanc, Canada’s minister responsible for U.S. trade, offered no comment beyond Carney’s remarks Sunday evening.
The president did not provide further details on the terms under discussion. The announcement comes just two days before Tuesday’s midterm elections, as Trump makes his final push in farm-heavy battleground states where trade policy has been a central issue.
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Turning Point Needs Your Help to Unleash Ballot Chasers on Dems
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