Verified and updated: November 12, 2026, at 3:00 p.m. EST (Toronto; 20:00 UTC).
Canada’s trade discussions with the United States remain unresolved, and no new agreement has been announced. On November 10, Prime Minister Mark Carney said the U.S. executive branch remains central to trade decisions, even after Democrats’ midterm gains. He also said tough issues remain after the two countries suspended negotiations in August. For Canadians, the stakes include tariffs on some exports, uncertainty for businesses that rely on cross-border supply chains, and the future operation of the Canada–United States–Mexico Agreement (CUSMA). The Associated Press reported Carney’s latest comments.
U.S. Trade Representative Jamieson Greer is a key U.S. negotiator, but he is not the only decision-maker: the U.S. administration sets policy, while Canada’s government negotiates on behalf of the country. A July CUSMA review did not produce U.S. agreement to renew the pact in its current form. The agreement remains in force while the parties continue the review process.
The most recent public update reviewed for this article came from Carney on November 10. He said unresolved issues remain, while describing the U.S. president and executive branch as the principal decision-makers on trade agreements over the next few years. That points to continued engagement with Washington, even as members of Congress debate tariffs and their effects.
The talks were suspended in August after an attempted bilateral agreement failed. Canada’s government said proposed U.S. terms were not acceptable and that an agreement had to protect Canadian workers, strategic sectors and sovereignty. In an October 5 parliamentary committee appearance, Global Affairs Canada’s trade-policy director said the summer discussions did not produce an agreement that met Canada’s objectives. That testimony also stated that CUSMA remained the legal framework for North American trade.
Tariffs are the most immediate pressure point. Canada’s Finance Department said the United States imposed a 50% tariff on $27.6 billion of Canadian goods effective August 22. Canada announced counter-tariffs on selected U.S. products, with rates designed to match U.S. measures; the announced Canadian measures took effect September 8. The affected product categories include steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. These actions can raise costs for importers and manufacturers, although the final effect on shoppers depends on whether businesses absorb, avoid or pass along the added costs.
Tariff treatment is not identical for every shipment or product. The rules and exemptions that apply can depend on the product, its origin and the specific U.S. measure. Businesses should check official tariff guidance and customs advice for their goods rather than assume a single rate applies to all Canadian exports. Finance Canada’s announcement describes the measures and support programs.
The broader file is CUSMA, known in the United States as USMCA. Its 2026 joint review did not result in U.S. agreement to renew the pact in its current form. The USTR said the agreement remains in force while discussions address what the United States considers shortcomings and trade imbalances. Canadian officials told a parliamentary committee that Canada and Mexico supported renewal for another 16-year term, while the United States did not. The review therefore creates a longer-term source of uncertainty even though the existing agreement continues to govern trade for now. The USTR’s July statement sets out the U.S. position.
Ottawa has said a deal must respect Canada’s ability to make its own policy choices and protect Canadian economic interests. Disputes involving cultural programming and French-language protections were among the issues associated with the breakdown of talks; Carney said those disputes had been overcome by November, but other difficult questions remained. Dairy supply management, softwood lumber and sector-specific tariffs have also featured in public coverage of the negotiations. The precise terms discussed privately have not been fully disclosed, so claims about a final package should be treated cautiously.
Confirmed: CUSMA remains in force, the August negotiations did not produce a deal, and tariff countermeasures were announced and implemented. Canada has also described support for affected workers and businesses, including liquidity and regional response programs.
Uncertain: A new bilateral agreement could reduce some tariffs or offer more predictable market access, but no timeline or final terms have been confirmed. If negotiations stay stalled, companies may continue facing costs and planning uncertainty. If talks resume, the balance between tariff relief, U.S. demands and Canada’s stated sovereignty concerns will shape whether an agreement is workable for Ottawa. These are possible outcomes, not announced results. Global Affairs Canada’s October committee testimony and Budget 2026’s trade chapter outline the Canadian government’s position.
Greer is the U.S. Trade Representative and a senior U.S. official involved in trade negotiations, including discussions related to CUSMA.
The August bilateral negotiations were suspended and had not produced a deal as of the latest update reviewed here. Carney said on November 10 that unresolved issues remain; no new agreement was announced.
Yes. The USTR and Canadian officials say CUSMA remains in force while the review process and related discussions continue.
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