The Treasury secretary’s remarks Thursday signal possible relief for Canada’s aluminum sector, which—along with steel makers—faces a 50% tariff on products entering the U.S. Canada is the U.S.’s biggest foreign supplier of both metals, and the deals President Trump has made to date have maintained the 50% duty of steel and aluminum.

President Donald Trump says Canada's announcement it'll recognize a Palestinian state "will make it very hard" for the U.S. to reach a trade agreement with it.