Talks are moving and officials are talking up momentum
Kevin Hassett, who leads the White House National Economic Council, told Fox News' The Sunday Briefing that discussions with Canada have accelerated and could be nearing agreement. He also said Commerce Secretary Howard Lutnick had been in contact with Canadian counterparts throughout the week.
A US official said Sunday that exchanges between Lutnick and Dominic LeBlanc, the Canadian cabinet minister charged with handling talks with the US, have intensified in recent weeks and continue. The same official cautioned that outcomes remain uncertain because the US view is that Canada has not yet offered enough, and said the president will only back a deal that is favorable for the US.
Tariff shifts, Maine politics, and Canada's response
Hassett's remarks came two days after the Trump administration reworked tariffs on Canadian products to aid certain Maine companies following advocacy from Senator Susan Collins. The White House has also said it is simultaneously waiving tariffs for some Canadian items and raising duties on others in an effort to bolster Collins' campaign to keep her Senate seat. "President Trump has put the citizens of Maine first," Hassett said.
Collins said Friday the US will roll back 50% tariffs on Canadian plywood, on bleached paper and cartons, and on certain agricultural machinery, arguing the change will support Maine's rural and coastal economies. She also previously highlighted that President Trump lifted tariffs on road salt and other goods last month after she asked him to do so, at the same time he announced retaliatory measures following the collapse of US-Canada talks. After negotiations over a US-Canada tariff arrangement unraveled in August, both countries rolled out tit-for-tat measures, and Canada later adjusted its counter-tariffs to drop seafood items.
LeBlanc said Friday the latest US actions are under evaluation. "While we assess these latest steps, Canada stands ready to work constructively and in good faith towards a more mutually beneficial trading relationship that respects Canada's interests," he said.
When policy and politics touch trade, staying informed matters, so sign up for the free Market Briefs to get five-minute daily updates
Who is at the table, and what they are saying
Canadian Prime Minister Mark Carney said Wednesday he spoke with US President Donald Trump and raised the trade file. He said he is ready to negotiate when the US is, but only for "a deal that's in the interests of Canadians."
On Fox News, Hassett also said supporting Maine and Alaska fisheries has been "almost above everything else that we've done at the National Economic Council," a notably direct framing of priorities ahead of the Nov. 3 midterms. In April, the US Department of Agriculture created the first-ever Office of Seafood; on Friday, the administration unveiled a broader "America First Seafood Strategy."
Collins, the Republican facing a tight race, has been touting her role in delivering tariff relief for Maine consumers and businesses. Her Democratic challenger, Troy Jackson, argued Friday on social media that Collins "wants credit for bringing a cup of water to put out the fire," saying she only acted because she could lose her seat.
The bottom line for investors
In plain English: trade terms remain in flux as negotiators hunt for a deal and tariffs get used alongside politics. Watch the named categories - plywood, paper products, cartons, agricultural machinery, seafood, and even road salt - where policy shifts are explicit. Any movement here can ripple through input costs, margins, and cross-border supply chains for packaging, forestry, agriculture equipment, and fisheries-linked names.
Because trade decisions ripple across industries, a clear daily summary helps, so subscribe to the free Market Briefs newsletter for quick context
