Today, the U.S. and Canada are talk and trade.

From Marketplace, I'm Sabri Benishore, in for David Brancaccio.

Canadian Prime Minister Mark Carney will meet with President Donald Trump today.

Carney is under a lot of pressure to reach an agreement to lower tariffs imposed by the Trump administration.

Just last night, President Trump said medium and heavy trucks imported to the U.S. would be taxed at 25 percent starting on November 1st. That would hit Canada in particular. Marketplaces, Henry Ep, has more.

The Trump administration has placed a 35 percent import tax on Canadian goods. But there's a big exception, Canadian exports that fall under a

free trade agreement reached during Trump's first term. That agreement between the U.S., Canada, and Mexico

is scheduled for review by the three countries next summer. The U.S. began its public comment

process for that review last month. The meeting between the two leaders comes as Trump has continued to suggest Canada should

become part of the U.S.

Those comments have deeply offended many Canadians, leading them to cancel trips to the U.S.

and to boycott American goods.

Still, Carney has tried to offer some concessions to Trump.

He's dropped retaliatory tariffs and canceled attacks on American

tech companies. I'm Henry App for Marketplace. Markets have been breaking records recently. The

NASDAQ just yesterday hit an all-time high. A lot of this is being driven by AI news. There's

been a steady drumbeat of technological advances in multi-billion dollar investments,

but it's all very circular with big AI companies investing in one another, and it's concentrated

among a few firms. Is that a recipe for a bubble? Larry Adam is chief investment officer

at Raymond James. The NASDAQ is now up 100% since this AI rally began.

Ultimately, though, I still think that we're in the beginning to middle stages when it comes

to the AI era that we are in right now. And what I think it's important to recognize is that a lot of

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