Trump Says US and Canada Have 'Concept' of Trade Deal, Says Canada Will Pay for Keystone Pipeline

As of 8:10 a.m. ET, Monday, Nov. 2, 2026

President Donald Trump said Sunday that the United States and Canada have the "concept" of a new trade deal, and he said that Canada would build and pay for the Keystone pipeline as part of it.

No final agreement has been announced. Canadian Prime Minister Mark Carney described a "good conversation" with Trump and said negotiators would keep working, but his public statement did not mention a pipeline or who would pay for one.

"I spoke to him again yesterday, and we have the concept of a deal that's going to be great for our farmers, great for our country, and we'll be fine for that," Trump told reporters in Dubuque, Iowa, Reuters reported.

Trump's pipeline claim

Trump said the scope of an agreement would include the Keystone XL pipeline project, which he supports, according to Reuters.

"They're going to build the Keystone Pipeline," Trump said. "They're going to pay for it. … We're going to give them the route, and it's largely been determined."

Canada has not publicly confirmed that it agreed to build or fund the pipeline. Carney's office did not immediately respond to a request for comment on Trump's remarks, Reuters reported. In a later version of its story, Reuters said a spokesperson for Dominic LeBlanc, Canada's minister responsible for trade with the U.S., had no comment Sunday evening beyond Carney's remarks. A spokesperson for Energy Minister Tim Hodgson declined to comment.

Reuters said it was not immediately clear how the project would be revived. Former President Joe Biden revoked a key permit for the privately backed project in 2021.

What Carney said

Carney posted on X at 11:22 a.m. ET Sunday, before Trump spoke to reporters.

"Good conversation with President @realDonaldTrump on the future of Canada-U.S. trade," Carney wrote. He said the call "builds on our recent constructive discussions on the outlines of a mutually beneficial trade deal that would create jobs for our workers, boost affordability for families, and fully respect Canada's languages, culture, and sovereignty."

"Our teams will now be working in the coming weeks to deliver that outcome," he wrote.

Tariff fight and the midterms

The two countries have put billions of dollars in tariffs on each other's goods in recent months, Reuters reported. Those tariffs have become an issue in northern border states such as Michigan and Maine ahead of Tuesday's U.S. midterm elections.

Trump said last week that a trade deal with Canada was coming soon, but Ottawa had previously reported limited progress in the talks, despite efforts to ease tariffs on steel and autos, according to Reuters.

Neither government has released any terms, a timeline for an agreement or details of a pipeline route.