Commerce Secretary Howard Lutnick reminded us of an important but little-discussed part of trade negotiations with Canada and Mexico -- "virtually 75%" of trade between the U.S. and its two neighbors is "already tariff free" because of the USMCA agreement.

Trump said the U.S. has not 'had a lot of luck' with Canada during negotiations on a new trade and security deal, suggesting the two countries may end up with no new agreement.

US President Donald Trump said trade talks with Canada are not a focus for his administration right now, and instead of negotiating a deal he may decide to just leave import taxes in place.