Overview

• Canadian Prime Minister Mark Carney and US President Donald Trump have agreed to begin negotiations on a new economic and security framework immediately after Canada’s federal election on April 28, 2025.
• President Trump recently paused reciprocal tariffs for most trading partners for 90 days but maintained tariffs on Canada, setting a contentious backdrop for the upcoming talks.
• The negotiations aim to address long-standing trade tensions that escalated early in Trump’s presidency, including reciprocal tariffs and retaliatory measures by Canada.
• Carney emphasized the importance of deepening relationships with like-minded trading partners while preparing for a potential restructuring of the global trading system.
• Polling suggests Carney’s Liberal Party is likely to retain control of Parliament, positioning him to lead Canada’s efforts in the upcoming negotiations.