Canadian Prime Minister Mark Carney met

 

with U.S. President Donald Trump at the Oval Office on Tuesday to hold talks centered on trade, tariffs, and future investment opportunities. The discussion also covered the ongoing review of the United States-Mexico-Canada Agreement (USMCA).

 

During the meeting, Carney expressed optimism about bilateral ties, saying that both countries would be "stronger together." Trump confirmed that officials from both sides were "working on formulas" aimed at shaping a new trade deal.

 

"President Trump and I understand there are areas where our countries compete, and areas where we're stronger together. We're focused on building these new opportunities," Carney wrote on X after the meeting According to ANI, this was Carney's second visit to Washington since assuming office in April. He described Trump as a "transformative president" and noted that Canada remains the largest foreign investor in the United States. He added that the country could invest "around $1 trillion over the next five years, provided the agreement meets expectations."

 

'We've Come a Long Way, Says Trump

 

Trump acknowledged that while both countries are natural economic rivals, they have made substantial progress in trade negotiations.

 

"He wants to make cars, we want to make cars - we're competing for the same industries. But our advantage is that we have a massive market," Trump said, as quoted by Bloomberg.U.S. president added that the two nations have "come a long way" in talks, noting that they are "working on formulas" that could soon lead to a mutually beneficial deal.

 

Carney echoed that sentiment, saying, "There are areas where we compete, and that's where we must reach a fair agreement. But there are many more areas where we are stronger together - that's our focus."

 

Trade Tensions and Tariffs

 

Recent U.S. tariff hikes on key sectors such as steel, aluminum, automobiles, and lumber have strained Canada's economy. Duties on non-compliant goods under the USMCA have increased from 25% to 35%, which analysts say has hurt Canadian jobs and investments, contributing to an economic slowdown in the second quarter,

 

Bloomberg reported.Trump said he is open to renegotiating the current trilateral trade pact or pursuing separate bilateral agreements with Canada and Mexico. "I don't have a strong preference, but I want the best possible deal for the United States - and for Canada as well," he stated.

 

He added that any future agreement would be comprehensive and address long-standing trade issues, including dairy market access.