Hassett: U.S.-Canada Trade Deal 'Very Close' as Talks Gather Steam

The United States and Canada may be nearing the end of a months-long trade standoff. White House National Economic Council Director Kevin Hassett said Sunday that negotiations with Ottawa have “picked up” and are “gathering steam,” according to Bloomberg Law’s account of his appearance on Fox News’ The Sunday Briefing.

“I think it’s very close to finally having a deal on that,” Hassett said, according to Bloomberg Law. He added that Commerce Secretary Howard Lutnick “has been talking to his Canadian counterparts all week,” Bloomberg Law reported.

The latest we’re hearing on US-Canada talks: Hassett says talks have “picked up” and they’re “very close” to a deal. It’s been LeBlanc and Lutnick (not Greer), but a U.S. official tells me the Canadians aren’t offering enough right now. No word yet today from the Canadians.

— Josh Wingrove (@josh_wingrove) October 25, 2026

Tariff relief already moving

The comments came two days after the Trump administration modified tariffs on Canadian goods to benefit some Maine businesses following lobbying by Sen. Susan Collins, according to Bloomberg Law. Ukrainian outlet UNN, citing Bloomberg, reported that the change removed a 50% tariff on Canadian plywood, bleached paper, cardboard and specialized agricultural machinery.

Trade disputes intensified after negotiations failed in August, when both countries imposed a series of reciprocal restrictions, according to UNN.

Not done yet

The White House is not declaring victory. Bloomberg White House reporter Josh Wingrove said in a post on X that a U.S. official told him “the Canadians aren’t offering enough right now.” Wingrove also wrote that the talks have been handled by Lutnick and LeBlanc rather than Greer, and that there was no word yet Sunday from the Canadian side.

Canadian Prime Minister Mark Carney has said he is ready to keep negotiating but that any agreement must serve Canadians’ interests, according to UNN. Ottawa had not publicly confirmed Hassett’s characterization as of Sunday afternoon, according to Wingrove’s post.

That gap matters. As Hassett described it, the administration’s position is that talks are now producing movement after months of tariff pressure. A deal built on real concessions would give the White House a concrete trade win with its northern neighbor days before the November 3 midterms.

Hassett’s economic pitch

Fox News described Hassett’s segment as a discussion of the administration’s economic policies, inflation and tariffs, including efforts to support domestic agriculture and relief for American farmers.

For now, the bottom line is simple: the administration says a Canada deal is close, Canada hasn’t said so publicly, and a U.S. official says Ottawa still needs to offer more. Daily Beltway will keep watching for terms and a timeline.

Sources

• Bloomberg Law: Hassett Says US-Canada Trade Talks Are ‘Very Close’ to a Deal
• UNN: The United States and Canada have moved closer to a trade deal
• Fox News: White House official addresses inflation and tariff concerns
• Josh Wingrove on X

Reporting by Daily Beltway.