Canada and US trade officials mapping out potential deal to pitch to Trump next week, reports CBC News

Bilateral trade negotiations of this kind, where officials pre-negotiate a package for sign-off at leader level, have tended to follow a familiar sequence: a working-level framework, a leader meeting that either blesses it or sends it back, and a longer gap between announcement and any ratified or implemented text. The tell in past episodes is whether the package addresses the specific irritant driving the dispute, tariff schedules, quotas, or sector carve-outs, or whether it is a framework for further talks, which historically draws a smaller and shorter-lived response. Headline sensitivity has typically been concentrated in CAD and in the exposed equity sectors rather than in broader FX, with the loonie reacting to perceived tariff relief and the reaction fading when the follow-on detail disappoints. The named timing, a pitch next week, sets up the leader-level meeting as the binary event; the actors involved have prior form for public negotiation, where positions aired before meetings have at times hardened rather than softened. What follows such announcements is usually a clarification phase, official confirmation or denial, scope of sectors covered, and whether the counterpart confirms the same terms, each of which has moved pricing as much as the initial headline.