(Editors Note: The Prime Minister’s Office announced later Monday that PM Mark Carney and U.S. President Donald Trump are aiming to complete a trade and security deal within 30 days.)

The U.S. and Canada have different concepts that are holding up a trade deal between the countries, Donald Trump said Monday.

The expected deal will have widespread implications for Canadian commercial real estate, potentially affecting all markets and asset types. The agreement stands to affect final decisions on investments, development projects and leases, among other CRE business matters.

The U.S. president told reporters at the G7 conference in Kananaskis, Alta., that he and Canadian Prime Minister Mark Carney do not see eye-to-eye on trade.

“I have a tariff concept,” Trump told reporters. “[Carney] has a different concept, which is something that some people like, but we’re going to see if we can get to the bottom of it today.

“I’m a tariff person I’ve always been a tariff [person] — it’s simple, it’s easy, it’s precise, and it just goes very quickly.”

But in opening comments, Trump said he is “sure” that the two countries can “work something out.” Trump said the the U.S. and Canada could reach a deal in coming weeks but both countries need to agree, he added.

In total, Carney and Trump met face-to-face for about 70 minutes on Monday with their talks including a 40-minute expanded meeting that included cabinet ministers, ambassadorial and other top officials, according to The Toronto Star.

Meanwhile, Canada is willing to enter an earlier review of the Canada-U.S.-Mexico trade deal, Canadian Intergovernmental Affairs Minister Dominic LeBlanc told the Star.

That agreement, which also has widespread implications for Canadian CRE, is not scheduled for a review until 2026.

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