Canadian Prime Minister Mark Carney and U.S. President Donald Trump had initially touched on trade matters during their recent Group of 7 summit meeting, where they expressed the need for timely resolutions. Kirsten Hillman, Canada's Ambassador to the U.S. and chief trade negotiator, emphasized that the bilateral team is in almost daily communication and that both nations are familiar with each other’s needs, suggesting an efficient path towards an agreement.

While U.S. negotiations with various countries have announced a new deadline of August 1, Canada is uniquely invested in its discussions with the U.S., hoping to come away with favorable terms that could set it apart from other negotiations. Hillman noted that the prospect of closing the deal by the July 21 deadline should encourage both sides to work collaboratively and effectively.

Communications remain open, with an urgent need to resolve trade issues that have ramifications for both economies. As talks progress, there’s a sense of cautious optimism that a deal can be reached in time to meet the impending deadline, ensuring that bilateral trade relations maintain their strong footing.