Canada and US say they are finalising a trade deal, but details remain murky

Trump said Canada has agreed to eliminate tariffs on US farmers, though he did not specify which specific agricultural sectors would benefit.

Asked whether the US will also be reducing some tariffs it has placed on Canada, Trump said by "a little bit".

In a post on X, Carney congratulated Greer and Canada-US Trade Minister Dominic LeBlanc "for the significant progress" made in negotiations.

"We are now moving towards an agreement that reinforces that Canadian advantage, including by securing the best terms in each of Canada's most important strategic sectors and providing greater certainty about our future trading relationship," Carney wrote on Wednesday.

The prime minister met with his cabinet and leaders of Canadian provinces on Wednesday afternoon to brief them on the deal.

His office said in a statement following the meeting that the prime minister "underscored the importance of a strong Team Canada approach" and emphasised "continued collaboration with provincial and territorial governments as the federal government works to finalise a deal".

Carney "reiterated that the government's goal is to secure the best deal for Canadians – one that provides the greatest possible U.S. market access for Canadian businesses", the statement says.

Following Carney's meeting, Nova Scotia Premier Tim Houston said the prime minister asked provinces to return US alcohol to Canadian markets.

"It's been an irritant. It's been something that has kind of really bothered the United States for so many reasons," Houston said. "Now, whether Canadians will really buy it when it's back on the shelf, that's a whole other discussion."

Saskatchewan Premier Scott Moe told reporters that bilateral negotiations are still ongoing, adding that Canada is still seeking "potential reductions to existing sectoral tariffs".

LeBlanc and his team have been camped out in Washington for more than a week to hammer out a deal ahead of a wave of new 50% tariffs the Trump administration planned to implement on Wednesday. Those have now been paused until the weekend.

Canada has been in pursuit of a deal that would have the US drop or reduce tariffs on its steel, aluminium, automobiles and lumber.