Carney confirms formal trade talks with U.S.

Investing.com -- Prime Minister Mark Carney said Monday that Canada and the United States have formally opened negotiations on a new economic and security partnership, following his first meeting with U.S. President Donald Trump in Washington. “We began the renegotiation of our trading relationship today,” Carney said, calling the discussions “the end of the beginning” of a broader effort to reset ties.

The prime minister described the Oval Office meeting and a private lunch as “very constructive,” noting that both sides exchanged detailed views on tariffs, trade strategy, and shared security priorities. “We have a concrete path forward,” Carney said. “There is a plan, and there is a willingness on both sides to move forward.”

Carney acknowledged expectations for immediate progress should be tempered, indicating that the issues will take time to resolve. “I wasn’t expecting white smoke,” he told reporters. “Negotiation doesn’t give little elements… it gives an outcome.”

With tariffs still in effect on several sectors, including autos and metals, Carney said Canada will continue pressing its case for removals. He pointed to Canada’s border enforcement on fentanyl and other measures as evidence of Canada’s partnership efforts, saying domestic seizures are down by over 90%. “That is an example of where we see the case for tariffs to be removed,” he said.

The prime minister maintained that trade talks would proceed “between sovereign nations,” and dismissed speculation over deeper integration. “This is never going to happen, and it is not for sale. Never will be for sale,” Carney said in response to Trump’s earlier comments about erasing the U.S.-Canada border.

Looking ahead, Carney plans to brief provincial leaders and continue technical work between officials. He and Trump expect to speak again before seeing each other at the G7 summit in Alberta next month. “We are engaged—and very fully engaged,” Carney said.