Trump, Carney express optimism on tariff agreement talks

President Donald Trump hit pause on a tariff escalation that had been barreling toward Canadian imports, buying both countries a narrow window to close what he’s calling a deal. Canadian Prime Minister Mark Carney isn’t quite ready to use that word yet, but he’s not exactly walking away from the table either. The two leaders spoke by phone on Monday, August 16, in a conversation that stretched nearly two hours. By August 19, Trump announced a three-day freeze on new tariffs that were set to hit 50% on Canadian goods worth approximately $20 billion. That’s roughly 5% of total Canadian imports to the US, with certain sectors like energy and fish carved out from the threatened levies. A deal, or a deal in progress Trump, never one for understatement, described the situation as having a “DEAL.” Carney took a more measured tone, acknowledging substantial progress while making clear that critical negotiations are still underway. The tariff threat first materialized in July 2026 as part of broader trade tensions between Washington and Ottawa. The exemptions for energy and fish suggest both sides recognized early on that certain sectors were too intertwined to unravel without serious colla...