Finance Minister Mark Carney has confirmed that Canada and the United States are exploring the possibility of a sectoral tariff agreement that could be finalized by the upcoming APEC Summit.
Speaking to reporters in Ottawa, Carney said discussions are progressing “constructively” and that both countries are evaluating which sectors could benefit most from reduced trade barriers. While he did not specify which industries are under consideration, sources suggest that clean energy, automotive manufacturing, and technology are among the likely focus areas.
Carney emphasized that any deal would aim to strengthen North American supply chains, promote investment, and support job creation on both sides of the border. “We’re working toward an agreement that reflects the economic priorities of both countries,” he said, adding that the proposal aligns with Canada’s broader goal of improving trade resilience and competitiveness.
The move comes as Canada and the U.S. look to stabilize trade relations and adapt to evolving global economic challenges. Analysts say a sector-specific approach could offer flexibility compared to a full-scale trade pact, making it easier to reach consensus before the APEC leaders’ meeting.
If successful, the agreement could mark a major step forward in deepening economic cooperation between Ottawa and Washington, potentially setting a new model for targeted trade partnerships among major economies.