Canada is ready to begin early talks on reviewing the North American free trade pact if the Trump administration wants to begin that process, Canadian Finance Minister Dominic LeBlanc said.

U.S. Commerce Secretary Howard Lutnick has been speaking with Canada’s finance minister Dominic LeBlanc about a potential compromise over the trade tariffs, said people close to the matter. Canadian officials are skeptical,

Canada wants the tariffs removed,' Finance Minister Dominic LeBlanc says as U.S. officials talk compromise Caption: Prime Minister Justin Trudeau, left, holds a press conference at Canada House in London on Sunday.

Events of the last week, with the on-again, off-again tariffs, have made many Canadians nervous. Federal Finance Minister Dominic LeBlanc says he's been talking to the U.S. commerce secretary about what needs to happen to get rid of the tariff threat altogether and move forward.

After Trump imposed tariffs on Canada, Trudeau claimed the move was a tactic to weaken Canada for potential annexation. Discussions revealed Trump's dissatisfaction with trade agreements and even questioning the border treaty.

US President Donald Trump extended to Canada a waiver on the 25% tariffs he had given Mexico earlier Thursday until April 2, 2025. The Republican leader signed an executive order exempting goods compliant with the USMCA trade agreement and reducing the tariff on Canadian potash - which is used in fertilizer - to 10%.

Canada’s initial retaliatory tariffs against the U.S. will remain in place despite President Donald Trump postponing 25% tariffs on many imports from Canada for a month, two senior Canadian government officials said.

The industry was already struggling with rising costs, market saturation, and declining demand, and the constant sense of uncertainty over tariffs only adds to the stress.