On October 26, 2026, US National Economic Council Director Kevin Hassett announced that negotiators were "very close" to reaching an agreement with Canada. This statement came as the US House of Representatives prepared for its midterms, with a potential trade deal potentially boosting President Donald Trump's standing among voters who favor a strong trade posture.
Trump echoed Hassett's sentiment, stating that Canada was "working very hard" to strike a deal. This joint optimism suggests that the talks are indeed intensifying, with both sides moving from discussion to drafting.
US, Canada 'very close' to tariff deal: WH https://t.co/MM7dNX4TlV https://t.co/APaahel7fp
While acknowledging constructive dialogue, a Canadian official emphasized that the final agreement will depend on the evolving positions of both parties. This cautious approach underscores Ottawa's intent to maintain a balanced negotiating strategy, ensuring that any agreement reflects Canadian interests while still engaging with American demands.
As of October 26, 2026, the official line from Washington is that the deal is "very close.
A new trade agreement could bring tangible benefits to businesses, workers, and consumers on both sides of the border. Lower tariffs could mean cheaper imported goods and a more competitive manufacturing sector for the US, while a less protected US market could translate into higher sales for Canadian exporters.
JUST IN: White House says US and Canada are "very close" to tariff deal
As of October 26, 2026, the official line from Washington is that the deal is "very close." Canadian officials, while acknowledging progress, maintain a cautious stance, emphasizing the fluid nature of the talks. The next few weeks will likely see the two sides refine the details, with the possibility of a signed agreement before the US midterms.
The momentum suggests that a trade deal is within reach, but the outcome remains uncertain. The real test will be whether the negotiations can translate this momentum into concrete terms that satisfy both American and Canadian interests.
JUST IN: White House says US and Canada are "very close" to tariff deal