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Trump says U.S., Canada close to trade deal

President Donald Trump expects a trade agreement with Canada to be finalized soon, while negotiations with Mexico have also begun. Remarks made at Joint Base Andrews.

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Elena Kovač · Central Banks Desk · 22 Aug 2026 · 12:25 · 1 min read
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Trump says U.S., Canada close to trade deal

U.S. President Donald Trump said on Friday he expects the United States to reach a trade deal with Canada in the coming weeks, signaling progress in ongoing negotiations.

Speaking to reporters at Joint Base Andrews, Trump stated that discussions with Canadian officials have advanced to a late stage, with both sides working toward a mutually beneficial agreement. He did not provide specific details on the terms under negotiation but emphasized that the process was moving forward.

The president also confirmed that preliminary work has commenced on a separate trade agreement with Mexico, though he did not outline a timeline for those discussions. The remarks follow months of bilateral talks aimed at modernizing trade relations between the three nations.

Trump’s comments come as the U.S. seeks to renegotiate key aspects of existing trade frameworks, including labor standards, digital trade provisions, and agricultural access. The administration has prioritized securing agreements that align with its economic and geopolitical objectives, including reducing trade imbalances and strengthening domestic manufacturing.

The U.S.-Canada trade relationship remains one of the largest bilateral trade partnerships globally, with two-way goods and services trade exceeding $700 billion annually. Any new agreement would likely build on the existing U.S.-Mexico-Canada Agreement (USMCA), which replaced NAFTA in 2020 and is set to undergo its first scheduled review in 2026.

This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Elena Kovač
Central Banks Desk

Elena covers macroeconomic data and policy across the eurozone, translating industrial output, inflation and growth figures into what they mean for markets.

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