US President Donald Trump on Friday, 23 October declared that Washington was close to finalising a trade agreement with Mexico and was negotiating from a commanding position with Canada, asserting that the United States held the decisive advantage in both sets of talks. The remarks were made on the White House South Lawn before Trump departed for a campaign rally in Florida.

Key Remarks on Trade

Trump told reporters: 'We are very close to a deal with Mexico. It will be a very good deal for, hopefully, them, but it is gonna be a good deal for us or we won not make it.' He added that Canada was also actively pursuing an agreement amid continuing tariff tensions between the two neighbouring countries.

Trump offered a blunt characterisation of America's negotiating leverage: 'I hate to say this, but we have all the cards in both of them. We have all the cards. Just like I told Zelensky, we have all the cards.' He did not provide a timetable for concluding either agreement or disclose the specific concessions under discussion.

Iran and the Strait of Hormuz

On the question of Iran, Trump suggested that Washington was weighing whether to escalate its military campaign or allow mounting economic pressure to further weaken Tehran. 'We can end it very quickly, but Iran is a failing nation,' he said. Trump claimed that US naval operations had secured oil movement through the Strait of Hormuz while restricting Iranian access. 'We have it blocked up for them, but nobody else,' he said, adding that more oil was reportedly passing through the waterway than before the conflict began.

Ukraine Ceasefire and Melania's Role

Turning to Ukraine, Trump welcomed what he described as ceasefire progress, calling it 'really good news.' He praised First Lady Melania Trump for her efforts to reunite children separated during the Russia-Ukraine conflict, noting that both sides were cooperating with her initiative. When asked whether the First Lady might participate in proposed trilateral peace negotiations, Trump replied: 'No, but it is not the worst idea I have ever heard.'

North Sea Oil and US Midterms

Trump disclosed a conversation with the British Prime Minister about expanding North Sea oil production, arguing the move would strengthen Britain's economy. On domestic politics, he defended his intensive campaign schedule ahead of the US midterm elections and expressed confidence in Republican electoral prospects, citing rallies in Iowa and Ohio as evidence that his appearances were benefiting party candidates.

The wide-ranging remarks signal that trade pressure on both Mexico and Canada is likely to remain a central pillar of Trump's foreign economic policy in the weeks ahead.