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Donald Trump said Canada is “working very hard” on a new trade deal amid a report the U.S. President may drop some tariffs in a bid to boost Republican candidates ahead of the midterm elections next month.

Speaking Friday outside the White House, Trump told reporters the U.S. has leverage in the discussions.

“Canada is working very hard to ​make a deal with us, and ​I hate to say this, but ⁠we have all the cards,” Trump said before flying to Florida for an election rally.

Trump: "Canada is working very hard to make a deal with us, and I hate to say this, but we have all the cards. We have all the cards, just like I told Zelenskyy, we have all the cards." pic.twitter.com/zjErDvxtre

— Scott Robertson (@sarobertson_) October 23, 2026

Trump’s comment comes the same day that the Wall Street Journal reports the President is expected to remove some tariffs on Canada in a bid to help Sen. Susan Collins get re-elected in Maine and boost other Republican candidates in the midterm elections.

According to the report, the presidential proclamation expected to remove 50% tariffs on products used in agriculture could come as early as Friday, but the details and timing may change. The Trump administration could drop those tariffs but slap levies on other Canadian goods to balance it out.

Praises tariff removal

Collins told the outlet, after learning about Trump’s reported plans, that she is happy with the idea.

“I have asked for tariff relief for these important products and stressed the burdens additional costs impose on Maine businesses and families,” Collins said. “I will continue working directly with Administration officials to seek additional relief from tariffs and encourage a broader trade agreement with Canada, our neighbour, ally, and largest trading partner.”

SCOOP: Trump expected to remove some tariffs on Canada in bid to help Sen. Susan Collins, other Repubs.

Reductions on agriculture and forestry products expected, could be balanced out with higher/new levies on other goods.

Could happen today, though timing could slip pic.twitter.com/V9tJ9kTejL

— Gavin Bade (@GavinBade) October 23, 2026

Collins, who is campaigning against tariffs in a state that heavily relies on goods from Canada, is in a tight battle with Democratic challenger Troy Jackson.

A White House official said any news about changes to Trump’s tariff policy will come directly from the administration itself. The U.S. trade representative’s office declined to comment on the report.

Canadian officials, including Dominic LeBlanc, the minister responsible for Canada-U.S. trade, have yet to comment.

Trade talks collapsed

After last minute trade negotiations broke down this summer, Trump ordered 50% tariffs be applied to about $20-billion US ($28-billion CDN) worth of Canadian goods that came into effect on Aug. 22.

Prime Minister Mark Carney and his government retaliated with counter-tariffs in the same amount on Sept. 8 on a number of American imports, focusing on steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.

Official trade talks have not resumed since the summer.

Earlier this month, U.S. Trade Representative Jamieson Greer said major gaps still remain on key issues between both countries.

“When the Canadians want to get to yes, obviously we’ll be there ready to talk,” he told CNBC .

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