Canada and US say they are finalising a trade deal, but details remain murkyPrime Minister Carney hailed "significant progress" in trade talks as the two countries seek to hammer out final details ahead of a new weekend tariff deadline. 8 mins agoUS & Canada

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

Key points

• Canada and the US are finalising a highly anticipated trade accord, with President Donald Trump and Prime Minister Mark Carney touting it as a success.
• In a post on X, Carney congratulated Greer and Canada-US Trade Minister Dominic LeBlanc "for the significant progress" created in negotiations.
• Asked whether the US will additionally be reducing some tariffs it has placed on Canada, Trump stated by "a little bit".
• Though he did not specify which specific agricultural sectors would benefit, trump remarked Canada has agreed to eliminate tariffs on US farmers.
• It has additionally asked for the ban on US alcohol sales, imposed last year by most Canadian provinces in retaliation to Trump's tariffs, be removed.

While Carney noted it will secure "the best terms" for Canada's strategic sectors and provide certainty on the future of US-Canada trade, trump remarked the proposed agreement will be welcome by US farmers and manufacturers.

Trade negotiators met on Wednesday for the third time in as plenty of days on Wednesday and after Trump paused a new wave of tariffs he had threatened to impose overnight on a range of Canadian goods.

But details on what the agreement covers, and what concessions both sides have created, and what still need to be ironed out, remain unclear.

Speaking to reporters briefly on Wednesday after a 45-minute session with his Canadian counterpart, US Trade Representative Jamieson Greer stated the Americans are "very happy" with the latest discussions.

He remarked he will shortly brief Congress and US stakeholders on the deal's details.

"We feel confident that we've reached an agreement that will not only continue to protect American workers, American jobs, American supply chains, but really strengthen the North American economy, " Greer remarked.

In practice, the accord eliminates "some of the irritants" that the US has had with Canada, he went on.

"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.

LeBlanc and his team have been camped out in Washington for more than a week to hammer out a accord 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 accord that would have the US drop or reduce tariffs on its steel, aluminium, automobiles and lumber.

For context, the US, meanwhile, has been asking for a number of concessions from Canada, including removing its remaining retaliatory tariffs on American autos and adjusting its dairy quotas to allow greater access for US cheese producers.

Asked on Wednesday if the latest accord will include significant concessions on dairy, Minister LeBlanc stated that Canada's dairy supply management programme – which sees production quotas, set pricing, and import quotas on dairy, eggs, and poultry – will remain "entirely intact".

Polls suggest that a majority of Canadians would be unhappy if the Carney administration produced significant concessions to the US, with 56% surveyed by polling firm Leger saying they want Canada to take a hardline approach.

But business organisations from both sides of the border have pressed for a agreement to be reached, cautioning that extra tariffs between the two major trading partners would be harmful for both countries.

Trump pauses new tariffs on Canada for three days, saying accord close. Canada's 'powerful' dairy sector is in Trump's trade crosshairs.

Plenty of Canadians are boycotting the US, so this is where they're travelling instead.

For now, canada and US say they are finalising a trade deal, but details remains the part of the story worth watching, and further updates are likely as more details are confirmed.