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Business & Economy

Business & Economy

The Big Story

Trump downplays trade deals in meeting with Carney

In his first meeting with Mark Carney since the Canadian prime minister's election last month, Trump said the U.S. faced no urgency to negotiate and would keep tariffs in place.

© The Associated Press

“No,” he said when asked if Carney can say anything to lift the tariffs on Canada. “That’s the way it is.”

The Trump administration has imposed 25 percent tariffs on Canadian goods, though certain imports covered under the USMCA signed in 2020 are exempt.

At the same time, the administration has said it is negotiating with other countries after the White House levied “reciprocal” tariffs on dozens of other trading partners, including allies like India, South Korea, Japan and the European Union.

“We don’t have to sign deals. We could sign 25 deals right now, if we wanted,” Trump said.

The president described his approach as “flexible” and not “chaotic,” adding that the administration will adjust tariffs on trading partners if they’re not agreed to.

“One day we’ll come, and we’ll give you 100 deals, and they don’t have to sign,” Trump said. “We will sign some deals, but much bigger than that is we’re going to put down the price that people will have to pay to shop in the United States. Think of us as a super luxury store, a store that has the goods.”

The Hill's Brett Samuels and Alex Gangitano have more here.

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

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