Overview

• Prime Minister Mark Carney met President Donald Trump on Oct. 7 for a working Oval Office session and lunch, with both sides announcing no immediate tariff relief.
• Trump said Washington could renegotiate USMCA or pursue "different deals" with Canada, pointing to a more bilateral approach ahead of the 2026 review.
• Ottawa sought targeted easing on steel and aluminum, but officials and industry voices cautioned that near-term concessions were unlikely.
• Canada faces extensive U.S. levies including 50% tariffs on steel and aluminum, 25% on autos with carve-outs for U.S. parts, 35% on non‑USMCA goods, additional softwood duties, and a new 25% tariff on heavy trucks starting Nov. 1.
• Carney is under growing domestic pressure to deliver results as Canada’s economy is heavily tied to U.S. trade and recent growth has weakened.