What business leaders want — and worry about — on trade talks with U.S.

Candace Laing, CEO of the Canadian Chamber of Commerce, speaks at an event in Ottawa, Tuesday, April 21, 2026. THE CANADIAN PRESS/Adrian Wyld

With the clock ticking down on a July 1 review deadline for the United States-Canada-Mexico Agreement, Canada’s top business leaders are weighing in.

Industry association heads are serving up disparate views on the best approach to talks with U.S. negotiators and their famously fickle boss in the White House.

Some say sealing a deal soon is essential to banish the pall of uncertainty hanging over Canadian commerce. Others argue that biding one’s time means mounting leverage at the bargaining table as President Donald Trump’s poll numbers sag in the run-up to the U.S. midterm elections.

Here’s the situation as the CEOs see it:

Candace Laing, CEO of the Canadian Chamber of Commerce

“Concessions without guarantees don’t necessarily get us very far. And what certainty is there anyways in a quick deal?”

Catherine Cobden, CEO of the Canadian Steel Producers Association

“It’s a very dire, desperate situation. Job losses are piling up, we’re reducing the amount of steel we’re producing, there are decisions to freeze investment … We need to get this tariff war behind us.”

Dan Kelly, CEO of the Canadian Federation of Independent Business

“Rushing to a deal may not be a helpful outcome. We may have to trade away stuff that is pretty important.”

“Protecting zero tariffs on CUSMA-compliant goods is job No. 1 for the government … It’s an open question whether that’s going to be an achievable goal.”

Goldy Hyder, CEO of the Business Council of Canada

“If everybody’s getting a tariff and you have the lowest, as we currently do, you win.”

“You may hear the phrase ‘Fortress North America’ a lot … Our experience is the president doesn’t care about Fortress North America. We’ve got to do what we can to continue to convince the American administration that this agreement is good for America.”

Jean Simard, CEO of the Aluminum Association of Canada

“Alcoa and Rio Tinto together lost US$600 million in the first two months of the tariffs … Canada has to have a tariff exemption.”

“You have to know the impacts of any concession of any demand, and you have to update yourself on an ongoing basis so that when the moment comes, you’re able to deliver. And to me that’s the secret to the negotiations.”

Dennis Darby, CEO of Canadian Manufacturers and Exporters

“Realistically speaking, there might be some level of tariffs, and that might be the cost to get into the U.S. market as long as this administration is in power.”

This report by The Canadian Press was first published June 5, 2026.

Christopher Reynolds, The Canadian Press