MNI BRIEF: Carney Says Good US Trade Deal Not Yet On The Table

Canadian Prime Minister Mark Carney told reporters Wednesday he hasn't yet seen the U.S. present a suitable trade agreement ahead of President Donald Trump's Aug. 1 tariff deadline, and for a second day suggested the best case scenario is securing the lowest tariffs among global competitors. 

“It has to be a deal that works for Canadians,” Carney said. “Part of the reason we don’t have a deal is that deal is not yet on the table.” 

Carney said Canada already has duty-free trade across a large percentage of its exports unlike most other nations. “We believe the best arrangements would be low tariffs,” he said. “The U.S. has different priorities and we have to adjust to that.” Asked about a side deal using export quotas to end a decades-long dispute over softwood lumber Carney said he wants that included in a broader trade pact and it's common to see some element of "managed trade." (See: MNI: Canada Pushed Bessent On Market Drop After Auto Tariff)