Carney Pushes for Full USMCA Deal, Warns All Options Open

Canadian Prime Minister Mark Carney said Tuesday that Ottawa is holding out for a sweeping renegotiated USMCA agreement with the United States, refusing to accept any limited or sector-specific deal that falls short of protecting Canada's most critical industries. Carney described this week's interactions with Washington as reflecting a high level of engagement and a serious commitment to the trade relationship on both sides.

Despite the constructive tone, Carney drew a clear line: Canada has not signed any partial agreement because the government insists that key economic sectors must be addressed before any deal is finalized. He added that some elements of the ongoing talks are expected to stretch toward the end of the year, signaling a prolonged and complex negotiating timeline ahead.

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Carney also put Washington on notice, stating that "everything is on the table" should the United States follow through on its latest tariff threats or if negotiations break down entirely. The warning signals Canada's readiness to respond forcefully if diplomatic progress stalls, adding pressure to both sides to keep talks on track.

On the question of interim arrangements, Carney acknowledged that interim USMCA agreements referenced by U.S. Trade Representative Jamieson Greer are consistent with the existing USMCA framework, suggesting some procedural common ground even as the broader deal remains unresolved. He also took care to underscore that Canada's relationship with Mexico remains strong and is deepening despite the ongoing trilateral negotiations.

The overall picture is one of a Canadian government determined to play a long game — protecting strategic industries rather than locking in a fast but incomplete agreement. Continue reading at Forexlive.