Carney Says Canada Is Not Yet Ready to Finalise Trade Deal with US

Ottawa, October 29, 2026 (Yes Punjab News)

Canadian Prime Minister Mark Carney has said Canada is not yet in a position to finalise a trade agreement with the United States, stressing that any deal must serve the country’s interests while also offering benefits to Washington.

Speaking to reporters ahead of a Liberal caucus meeting on Wednesday, Carney said Ottawa would pursue an agreement if the right terms emerged but was not ready to conclude a deal at present.

“There are deals that are in the best interests of Canada, first and foremost, but also are in the interests of the United States,” Carney said, adding that his government would pursue such agreements if the opportunity arose.

The remarks come amid continuing trade tensions between the neighbouring countries and questions over whether an agreement could be reached before the November 3 US midterm elections. Recent statements by US President Donald Trump suggesting rapid progress towards a deal have attracted attention in Ottawa.

Meanwhile, Canada has moved to support industries affected by US tariffs. Earlier this month, Carney and Ontario Premier Doug Ford announced an 8.7-billion-Canadian-dollar support package aimed at protecting workers and businesses while strengthening the province’s industrial base.

According to the Prime Minister’s Office, the plan focuses on Ontario’s steel, automotive and critical minerals sectors. Measures include a joint steel action fund, assistance for automakers upgrading production lines for connected and electric vehicles, and infrastructure and regulatory initiatives to develop a critical minerals supply chain in northern Ontario.

Ontario is central to Canada’s manufacturing economy, with major automotive and steel industries and significant critical mineral deposits. Its heavy reliance on exports to the United States has left key sectors exposed to the impact of US tariffs.

Carney’s comments indicate that Ottawa is continuing to weigh the terms of a potential agreement rather than committing to a specific timeline for its conclusion.