Canadian PM Carney Says Ottawa 'Ready' to Strike Trade Deal with US That Benefits Both Countries

Ottawa: Canadian Prime Minister Mark Carney on Thursday (local time) said that Ottawa is ready to negotiate a durable trade agreement with the United States that serves the interests of both countries, while stressing that Canada will continue to protect its workers, families and businesses amid the escalating trade tensions with Washington.

Carney said Canada was not seeking a quick political announcement but a long-term agreement that would benefit both sides. "We are always going to stand up for what's in the best interest of Canada, Canadian workers, and Canadian families, not look for an easy win, not looking for an announcement, but something that's durable. And that deal is possible; that's in both of our interests," Carney said during a press conference.

He said an agreement that serves the interests of Canadian workers, families and businesses would also benefit American consumers, businesses and families. "And we're ready to sit down and strike that deal when the Americans are ready," he added. Carney, however, indicated that Ottawa would not remain focused solely on waiting for Washington to make the next move, saying Canada was concentrating on strengthening its own economy and expanding trade ties with other countries.

"We'll see at the appropriate time. The conversation will happen, but the most important thing we can do is not to spend all our time waiting by the phone, waiting for a call, or refreshing on social media. No, it's building. It's building here. It's building bold. It's building now. It's moving forward," he said.

"It is talking to and concluding agreements with all the countries around the world who want to make a deal with Canada," Carney added. The Canadian Prime Minister also reiterated Ottawa's position that it had been forced to suspend trade negotiations with the US after rejecting Washington's proposed terms.

"Our country is being tested. Two weeks ago, we made the right decision to suspend our trade negotiations with the United States. We couldn't accept what they'd offered. We wouldn't give what they'd asked. As a result, the US has imposed new tariffs designed to hurt and divide us," he said.

Carney made the remarks as he announced that, for the first time in four decades, VIA Rail passenger cars will be built in Canada. This comes amid a sharp deterioration in US-Canada trade relations after negotiations between Washington and Ottawa broke down. The Canadian Prime Minister last month instructed his negotiators to return to Ottawa, saying Canada could not accept the terms put forward by the United States.

He described the last-minute changes in the US proposal as "unfair" and "uneconomic", saying they called into question the reliability of any eventual agreement. Following the collapse of the talks, the US imposed new tariffs on Canadian imports, while Ottawa announced that it would respond with retaliatory measures. Carney said Canada would match the new US tariffs dollar-for-dollar to protect Canadian workers, farmers, families and businesses.

The measures announced by Ottawa are expected to target a range of US products, including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. US President Donald Trump has also escalated his criticism of Canada, announcing that tariffs on Canadian cars, trucks, automotive parts and steel imports would be raised to 50 per cent from January 2027.

Trump accused Canada of imposing high tariffs on US farmers and agricultural products and said US companies manufacturing in the United States would face zero tariffs. "Canada has been ripping off the United States of America for years," Trump said in a post on Truth Social, while announcing the planned tariff increase.

He also argued that the United States did not need Canada to the same extent that Canada relied on the American market. The US Trade Representative separately criticised Ottawa's decision to suspend negotiations, saying the move followed new demands and reversals by Canada despite a US offer covering sector-specific relief for steel, aluminium, automobiles and lumber, as well as cooperation on export controls, digital trade, critical minerals and supply chains.

The latest trade dispute has added uncertainty for industries closely integrated across the US-Canada border. Despite the tensions, Carney's latest remarks indicate that Ottawa remains open to returning to the negotiating table if Washington is prepared to pursue an agreement that both sides consider durable and mutually beneficial.

Also Read: Treasury Secy Bessent Says EU 'Officially' Joins US-Led 'Operation'