Trump Says Canada-U.S. Trade Deal Could Come ‘Fairly Soon’

U.S. President Donald Trump said on Sept. 12 that his administration could reach a trade deal with Canada “fairly soon,” offering a fresh public signal on negotiations that had broken down formally in August. He made the remarks in Ireland when asked whether he was considering withdrawing from the Canada-United States-Mexico Agreement, known in Canada as CUSMA. [1]

Trump did not outline proposed terms, a negotiation timetable or a formal process for restarting talks. His comments instead paired the prospect of an agreement with criticism of Canada’s trade relationship with the United States. The reported 2025 goods flows underscore the scale of the commercial relationship: Canada exported US$382 billion in goods to the United States and imported US$334 billion, according to U.S. Census Bureau data cited by CP24. [1]

The statement comes after the U.S. declined to renew CUSMA outright during its summer review. The agreement remains in force, while Canada, the United States and Mexico are to conduct annual reviews. That framework leaves the pact operative but does not resolve the wider bilateral disputes now being addressed through separate negotiations. [1]

Formal Canada-U.S. talks collapsed on Aug. 21 after Prime Minister Mark Carney recalled Canada’s delegation, saying Washington had introduced new and unacceptable requirements late in the process. U.S. officials blamed Canada for the impasse. CP24 reported that negotiators appear to have continued discussions behind the scenes despite the breakdown, making Trump’s Sept. 12 remarks an indication of potential movement rather than confirmation that an agreement has been reached. [1]

The unresolved talks sit alongside recent tariff escalation. Following the rupture, Trump imposed 50 per cent tariffs on nearly $28 billion in Canadian goods, and Canadian retaliatory tariffs took effect the following Tuesday. The U.S. also issued orders barring imports of certain Canadian products, including most alcohol, while changing the list of products subject to tariffs. [1]

For businesses exposed to cross-border trade, the immediate implication is continued uncertainty rather than relief. A stated expectation that a deal could arrive soon may support engagement between the two governments, but the absence of terms or a defined schedule means companies still face the existing tariff and policy environment while awaiting a concrete negotiating outcome. [1]