Published November 15, 2026 · By
Mark Carney said Saturday that Canada and the United States are making progress toward a trade agreement, after what he described as a long, substantive phone call with President Donald Trump before leaving on an overseas trip. Speaking to reporters in Manila, the Canadian prime minister said a bilateral deal is possible but has not been reached, and he drew a firm line on protecting Canada's auto industry, according to the Associated Press and The Canadian Press.
Here is what was said, who took part in the call, where tariffs stand on both sides of the border, and what the talks could mean for prices, jobs and household budgets in the United States.
What Mark Carney Said in Manila
Mark Carney spoke on Saturday, November 14, in the Philippine capital, where he arrived ahead of a three-day summit of the Association of Southeast Asian Nations (ASEAN) that begins Sunday. He told reporters he had spoken at length with Trump just before departing. "We are making progress. There is the possibility of a deal, a bilateral deal. But we're not yet there," Carney said, as quoted by the AP.
According to the AP, U.S. Trade Representative Jamieson Greer and Stephen Miller, Trump's new White House chief of staff, also joined the call. Neither the White House nor USTR had released a separate account of the conversation in the reports reviewed for this article.
The auto sector as a red line
Mark Carney said Canada would not accept an agreement that undermines its auto industry, which has been hit hard by U.S. tariffs, the AP reported. The Canadian Press, in a report carried by The Epoch Times, described a viable auto sector as one of the fundamental issues for Ottawa. Carney argued that a healthy auto industry serves Canadian workers and also benefits the United States, given how closely the two countries' factories are linked.
U.S. demands Carney says were dropped
Mark Carney also said Washington had backed away from demands touching on Canadian culture, French-language protections and Canada's ability to negotiate trade agreements with other countries, according to the AP. Those issues had been central to Ottawa's objections when talks collapsed over the summer. The U.S. side has not publicly confirmed that characterization in the reports reviewed here.
How Mark Carney's Talks With Trump Got Here
Talks between Mark Carney's government and Washington broke down in August, when Canada suspended negotiations after what Ottawa called last-minute U.S. demands it could not accept. Washington then imposed 50% tariffs on roughly $20 billion in Canadian goods, and Canada answered with its own counter-tariffs in September, the AP reported. Talks have since resumed.
Before the November 3 midterm elections, Trump said the two countries were "very close" to an agreement. On November 1 he argued that the United States had been losing money in its trade with Canada for decades, according to The Epoch Times. Earlier, in an August interview with CBC, Greer said Washington was focused on what is good for America while trying to accommodate Canada where it could.
The latest remarks from Mark Carney follow upbeat comments from U.S. officials late last week. As we reported, Treasury Secretary Scott Bessent said he was optimistic about deals with both Canada and Mexico, a day after Greer confirmed recent contacts with Ottawa. You can read that coverage in our report on the Canada trade deal outlook.
What a deal could change
According to the AP, an agreement could reduce some tariffs on key sectors, including steel and aluminum. Canada faces a choice, the AP noted: accept a deal that lowers Trump's tariffs but leaves some in place, or hold out for a return to fuller free trade. The Canadian Press has reported that Washington sought to keep heavy- and medium-duty trucks out of any tariff relief, a point Greer confirmed in August.
The broader U.S.-Mexico-Canada Agreement (USMCA) remains in force while the two governments negotiate. Background on the pact and its review process is available on the Office of the U.S. Trade Representative website.
Mark Carney Expands Trade Ties in Asia
The Manila stop was also about trade beyond North America. Mark Carney announced that Canada had "substantially concluded" free-trade negotiations with ASEAN, a bloc of about 700 million people, and had completed separate talks with the Philippines, the AP reported.
Canada's government estimates the ASEAN agreement could add nearly C$2 billion (about US$1.4 billion) to the Canadian economy and create almost 14,000 jobs, mostly in agriculture and manufacturing. Officials hope to sign it next year. The Philippines deal, also expected to be signed next year, covers more than 90% of tariff lines, and Ottawa says it could help triple Canadian exports to that country by 2035.
Mark Carney has set a goal of doubling Canada's exports to markets other than the United States by 2035. His trip continues with the European Political Community summit in Ireland, the Francophonie summit in Cambodia and the Asia-Pacific Economic Cooperation (APEC) meetings in China, where he is scheduled to meet Chinese President Xi Jinping. Trump is also set to meet Xi in Shenzhen, as covered in our report on the China trade talks.
Reactions in Washington
The administration has defended its tariffs as a tool to protect U.S. industry and press trading partners for better terms. Trump has framed the Canada relationship as one where the United States has long been on the losing side, and Greer has said U.S. priorities come first in any agreement.
Democrats, who won control of Congress in the midterms, campaigned in part on the argument that tariffs raised prices and pledged to challenge them, the AP reported. No named lawmaker from either party had commented on Mark Carney's Saturday remarks in the reports reviewed for this article, and no reaction from Canada's opposition parties was reported.
What It Means for You
Canada is one of the largest U.S. trading partners, so the direction of these talks can reach American wallets. The points below are our own analysis based on the reported facts, not predictions about whether a deal will be signed.
Car prices and auto jobs
Mark Carney put autos at the center of his position. Vehicles and parts often cross the border several times during assembly, so tariffs on them can add to costs for U.S. carmakers and suppliers. Shoppers planning to buy a car, and workers at plants in states such as Michigan and Ohio, may want to follow whether any agreement addresses auto tariffs.
Steel, aluminum and everyday goods
Steel and aluminum feed into products from appliances to canned food and building materials. If a deal lowers tariffs on those metals, some cost pressure on manufacturers and builders could ease over time. If talks stall, current duties on both sides stay in place, and Canadian counter-tariffs continue to affect U.S. exporters selling north of the border.
Inflation and interest rates
Tariffs can feed into broader price measures, which the Federal Reserve weighs when setting interest rates. Changes in trade policy can therefore affect the outlook for mortgage, auto loan and credit card rates. It may be worth comparing prices on big purchases and reviewing variable-rate debt rather than reacting to headlines.
What to watch next
- Any official statement from the White House or USTR on the Trump-Carney call.
- Whether a deal addresses tariffs on autos, steel and aluminum.
- Mark Carney's meetings at the ASEAN, Francophonie and APEC summits.
- Steps by the incoming Congress on tariff authority.
Bottom Line
Mark Carney says the two countries are closer, but no agreement has been announced and no terms or timeline have been made public. Until a deal is signed, the existing U.S. tariffs and Canadian counter-tariffs remain in effect. The next signals are likely to come from Washington's response to the call and from Mark Carney's meetings during his trip.
This article is for information only and is not financial advice.
Sources: Associated Press, "Carney says Canada and US are making progress toward trade deal" (Rob Gillies, Nov. 14, 2026); The Canadian Press via The Epoch Times, "Carney Says Canada–US Trade Deal Close Following Call With Trump, but Auto Sector a Thorny Issue" (Nov. 14, 2026); The Washington Post (Nov. 14, 2026); Office of the U.S. Trade Representative.
