Canada Won't Rush Trade Deal with US Amid Ongoing Tensions

Canada's Prime Minister Mark Carney addressed an audience of global investors at the Canada Investment Summit in Toronto, stating that his country will not rush into a trade deal with the U.S. instead aiming to build a stronger and more self-reliant economy.

Citing ongoing disputes, particularly after formal talks collapsed last month, leading to 50% US tariffs on $20 billion of Canadian imports and retaliatory measures from Ottawa, Carney emphasized that sustainable relations require 'true partners that respect each other’s traditions and sovereignty.'

Notably, despite these tensions, approximately 80% of bilateral trade remains tariff-free. When conditions are right, Canada is ready to finalize an agreement.