Prime Minister Mark Carney left Washington on Tuesday without a trade deal, even after a high‑profile Oval Office meeting with Donald Trump. The meeting, which had been billed as a chance to reset relations, ended with smiles, quotes for the cameras, and no relief from the tariffs choking Canadian industries. Trump called Carney “a world-class leader” and “a tough negotiator,” but the Canadian leader went home empty-handed. Trump said, “We’ve come a long way over the last few months, actually, in terms of that relationship. I think they’re going to walk away very happy.” Carney, who praised Trump’s role in foreign policy during the meeting, heard the president respond, “We have great love for each other. We have a natural conflict.” The exchange summed up the odd balance of flattery and tension that has defined their dealings since Trump returned to the White House. Trump cracks jokes while Canada fails to get tariff relief Reporters pressed Trump on why Canada still had no deal while the European Union had already reached an agreement. Trump deflected, saying, “Because I want to be a great man, too,” drawing laughter in the room. The comments were lighthearted, but they left the fundamental question unanswered. Carney risked political backlash at home by attending without winning any concessions, as the tariffs remain on Canadian steel, aluminum, autos, copper, and softwood lumber. Canada’s 25 percent countertariffs on U.S. steel and aluminum are also still in place. The White House reception matched what Carney’s office had predicted in advance: a session designed to create progress rather than close an agreement. But the domestic cost is rising. Carney won the April election on promises to face down Trump and protect Canada’s economy from the tariff fight. Months later, Canada is still the only member of the G7 that hasn’t secured a deal to ease the duties. Ontario Premier Doug Ford told reporters in Toronto, “We need to hit back hard. You sure don’t sit back and get beat up by a bully every single day. It’s like a kid going in the school yard and getting punched in the face every day.” Ford added, “Maybe Prime Minister Carney knows something I don’t know. And if that’s the case, he should sit down with the premiers and explain that.” Canada’s United Steelworkers union director Marty Warren issued his own warning, saying, “We need urgent action — not more concessions. Canada’s softwood lumber industry is on the brink of collapse.” Carney turns to USMCA review while Trump revives old lines Carney has shifted some focus toward the 2026 mandatory review of the United States‑Mexico‑Canada Agreement. About 85 percent of Canadian exports are tariff‑exempt under the current arrangement, giving him another path to press his case. Trump indicated he may consider a bilateral arrangement with Canada, saying, “We’re allowed to do different deals if we want. I want to make whatever the best deal is for this country, and also very much with Canada in mind.” Despite months of friendlier exchanges, Trump has not abandoned his jabs. Just last week, he again called Canada the “51st state” while speaking to U.S. generals. And when Carney tried to praise Trump’s efforts in foreign conflicts, including India and Pakistan, Armenia and Azerbaijan, and Gaza, Trump interrupted him with, “The merger of Canada and the United States?” Carney shot back, “No! That wasn’t where I was going,” before laughing off the moment. It was not the first time they had confronted the subject. Back in May, during their first Oval Office meeting, Carney told Trump bluntly, “Canada is not for sale. Won’t be for sale, ever.” Trump responded, “Never say never,” but let it slide. Carney has managed to avoid the outbursts that marked Justin Trudeau’s clashes with Trump during the last administration. Trudeau had called the tariffs “very dumb” and accused Trump of siding with Vladimir Putin. Carney, by contrast, has kept steady contact through calls and text messages, keeping tensions from boiling over. Still, with tariffs biting and no breakthrough in Washington, the relationship looks weaker than ever. Trump closed the meeting by predicting, “I think the people of Canada, they will love us again.” Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program
