Trump Says U.S. and Canada Are "Very Close" to a Trade Deal

Published 2026-11-02

U.S. President Donald Trump said that the United States and Canada are "very close" to reaching a new trade agreement. He spoke about trade relations between the two countries and said that both sides now have the "concept of a very good deal." The announcement comes at a time when trade between Canada and the United States is an important topic for both governments and for many Canadian businesses.

In his comments, Trump also said that the United States has lost money in its trade with Canada for many years. "We've been losing money for many years with Canada," he said. He did not give specific details about the terms of the possible agreement, so it is not yet clear what changes would be included. Trade between the two countries is very large, and many industries in Canada, such as energy, manufacturing, and agriculture, depend on exports to the United States.

The United States and Canada are each other's largest trading partners, so any change to trade rules can have a direct effect on jobs, prices, and business plans on both sides of the border. Canadian officials have not yet given a detailed response to Trump's remarks in the report available at this time. Observers will be watching closely to see whether the two countries can turn this early progress into a formal deal.

For now, the situation remains uncertain. Trump's statements suggest that talks are moving forward, but no final agreement has been announced. Canadians who work in export industries, or who buy goods from the United States, may need to wait for more information before knowing how a deal could affect them.

Sources: thecanadianpressnews.ca

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