Canada and the US working on new trade agreement after Carney and Trump talks

US President Donald Trump announced a proposal for a new trade agreement with Canada. This statement came amid ongoing disputes between the two countries regarding trade. Meanwhile, Canadian Prime Minister Mark Carney also positively assessed his recent meeting with Trump.

Speaking to journalists in Dubuque, Iowa, Trump noted that his administration has a concept for such an agreement that would benefit American farmers and the country as a whole. He confirmed his government's readiness to work on this proposal and mentioned his conversation with Canadian Prime Minister Mark Carney.

For his part, Canadian Prime Minister Mark Carney wrote on social media platform X that his negotiations with Trump have advanced the process toward achieving a mutually beneficial trade agreement. He added that this agreement will lead to the creation of new jobs and lower prices, while also guaranteeing full respect for Canadian culture, language, and sovereignty.

According to Carney, teams from both countries will work in the coming weeks to finalize this treaty. Trump also specified that the Keystone XL pipeline will be included in the proposed agreement. This project is controversial because it was previously canceled by former US President Joe Biden in 2021.

Trump emphasized: 'They will build the Keystone pipeline. They will bear the costs. We will provide them the road, and that road is largely defined.'

In recent months, tensions between the neighboring trading partners have increased due to the imposition of billion-dollar tariffs on each other's goods.

Previously, Trump had stated that a trade agreement with Canada would be signed soon. However, before that, Canada reported minor progress in negotiations despite efforts by both sides to reduce tariffs on steel and automobiles.

Canadian Prime Minister Mark Carney asserted that the United States will gain advantages from the diversification of Canada's trade alliances, even in the face of criticism from US President Donald Trump regarding proximity to the European Union (EU).

In Montreal, during a summit between Canada and the European Union taking place this Thursday and Friday, Carney told journalists that 'a stronger Canada is a better partner for everyone.' He added that to achieve this, it is necessary to diversify partnerships with trusted allies, ensuring that 'the United States will see the benefits' of this approach.

These statements come amid trade tensions between Ottawa and Washington, after Trump vehemently criticized the strengthening of ties between Canada and the European bloc. The two-day summit includes the participation of European Commission President Ursula von der Leyen and President of the European Council António Costa, aiming to deepen cooperation in commercial, economic, and defense areas between the two parties.

The meeting aims to solidify transatlantic ties at a time when Canada and the EU seek to reduce their economic and strategic dependence on the United States, given the change in American trade and foreign policy. Carney, who previously characterized Canada as 'the most European of non-European countries,' has advocated for an unprecedented closeness with community institutions.

This convergence with Brussels is part of the Canadian government's strategy to expand export markets and strengthen relations with partners considered safe, in a scenario of growing uncertainty in trade relations with Washington. The President of the European Council expressed his support for Ursula von der Leyen's proposal to grant Canada 'associated member' status with the EU, regardless of the terminology used.

In a speech delivered at the Montreal Council on International Relations, adjacent to the summit, António Costa emphasized that at this event, Brussels and Ottawa will establish 'an alliance for the future' and foster an 'ever closer association.'

President Donald Trump announced on Tuesday that the United States and India are on the verge of concluding a trade agreement after more than a year of negotiations. Answering journalists' questions at the White House, Trump stated: 'They want to make a deal. We will make a deal. Quite close, yes.'

He specified that this agreement 'could turn out to be a completely different kind,' but did not provide further details. Previously, officials from both countries expressed optimism about the possibility of reaching an agreement that could end the protracted deadlock in trade relations between Washington and New Delhi.

The US Ambassador to India, Sergio Gor, noted last week at the Bloomberg New Economy Forum in New Delhi that 'the main points have been resolved,' and that the two countries are very close to 'reaching an agreement.' These statements followed comments by Indian Foreign Minister S. Jaishankar, who expressed satisfaction with the progress in trade discussions and noted that both sides are 'moving toward a landing point.'

Furthermore, at the end of Friday, Trump canceled tariffs of up to 100% for buyers of Russian oil and gas, which could negatively affect Indian products and complicate trade negotiations.