Trump spoke as he got set to meet with Canadian Prime Minister Mark Carney and the initial comments were upbeat.
He said "I think they're going to walk away happy" regarding the talks with Canada. However he was asked whether there will be a minimum tariff when the USMCA agreement is renegotiated starting next summer.
“Well, we’re going to have tariffs between Canada — and you know, they have them with us,” the president said.
“We can renegotiate it, that would be good, or we can just do different deals,” Trump said.
As I highlighted earlier in the week, one of the deals that Canada is hoping to get is relief from steel tariffs. Algoma Steel is the lone Canadian independent steel producer and shares are up 10% since Trump spoke.
The Canadian dollar hasn't moved on the comments but it's caught in some crosscurrents right now with stock markets and oil under pressure.
