Prime Minister Mark Carney speaks with reporters during a news conference in Istanbul, Turkey, on Oct. 23, 2026. The Canadian Press/Adrian Wyld
Prime Minister Mark Carney says his government is in no hurry to sign a trade deal with the United States, and will wait months or even years for an agreement that benefits Canada.
Ottawa is continuing to engage with Washington on a deal that will benefit both countries, and Canada “could sign it this afternoon if the U.S. were there” with a balanced proposal, Carney told reporters in Istanbul, Turkey on Oct. 23.
“We continue to be ready to sit down in good faith to negotiate a trade deal that is in both of our interests,” he said.
Carney added that he is prepared to wait for a deal that matches “the interests of Canadians, we don’t care about the timing of that.”
“If it has to be months from now or longer than that, or another administration before a proper deal comes into place, we will do that,” he said.
Later on Oct. 23, U.S. Sen. said the White House will exempt several Canadian products from tariffs, including agricultural products important to her state’s agricultural industry. Her announcement comes ahead of next month’s midterm elections, as the Republican senator faces a close contest against her Democratic rival, Troy Jackson, with tariffs a contentious issue in the border state.
Resuming Trade Talks
When questioned about how critical timing is for a deal, Carney maintained that Canada would “drop everything” to engage in authentic negotiations with the Americans, but said the prospect of this occurring before the midterm elections conclude is up to the Trump administration, which he described as “a little hard to predict.”
U.S. President Donald Trump told reporters later on Oct. 23 at the White House that Washington was “very close” to a deal with Mexico, and the “same thing with Canada.”
“Canada’s working very hard to make a deal with us,” he said. “And I hate to say this, but we have all the cards.”
Trade negotiations between the two countries broke down on Aug. 21, leading Washington to follow through on its threat to impose 50 percent tariffs on $27.6 billion of Canadian goods the following day. Ottawa responded on Sept. 8 with 15, 25, and 50 percent counter-tariffs on roughly $27.6 billion of U.S. imports.
The Trump administration also imposed import prohibitions on most Canadian alcoholic beverages, some dairy-related products, and motorcycles, beginning on Sept. 29. Additionally, Trump has threatened to double the current 25 percent automotive and steel tariffs beginning on Jan. 1, 2027.
Carney told reporters earlier this week that he had last spoken with Trump on Oct. 21 about issues such as trade and Iran.
Announcements in Turkey
The prime minister told reporters during the Oct. 23 briefing that his immediate focus was directed toward the strategic trade, defence, and energy partnership that was unveiled with Turkey on Oct. 22, representing a key initiative to broaden Canada’s commercial ties beyond the United States.
“That’s part of the purpose of this trip, and other efforts that we’re making, and we’re succeeding in that,” he said.
The deal signed between Carney and Turkish President Recep Erdoğan included cooperation in energy sectors such as liquefied natural gas, nuclear power, and renewables, collaboration on security, and formalizing an air transport agreement to increase the number of passenger flights from 12 per week to 21 per week.
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