Michigan: US President Donald Trump stated that Canada has "taken advantage" of the United States for years through trade imbalances, while expressing confidence that a finalised agreement will secure long-term gains for the American economy.

Speaking on bilateral economic relations, Trump claimed that Canada has reaped massive profits at the expense of the US, though he maintained that dialogue between the two neighbours is progressing toward a resolution.

"Canada has been making $90B/year off us for years and years. They've taken advantage of our country, but we're getting close to a deal... I love Canada; I love everything about it - other than some of the leaders," Trump said, while talking to FOX 2's Roop Raj ahead of Michigan rally.

Underlining his negotiation approach, the US President emphasised that he is prioritising a durable and advantageous economic framework rather than settling for an interim compromise.

"I want to make the right deal. I'm not a short-term person, I'm a long-term. When the deal is made, it'll be a great deal for America," Trump added.

Earlier this month, United States President Donald Trump stated that he holds no urgency regarding the resumption of trade talks with Canada, whilst levelling accusations that the northern neighbour has mistreated the United States and stipulating that any future pact necessitates Ottawa to be "honest" with Washington.

President Trump delivered these comments when questioned by reporters concerning whether trade negotiations with Canada would recommence prior to the United States midterm elections.

President Trump stated, "I don't know. Canada behaves very badly with the United States and I don't know."

He further remarked, "We caught them in the act; they charged us a lot of tariffs that nobody knew about except me. And it will work out eventually, but I don't know about I'm in no rush."

President Trump provided no timeline regarding the restart of trade negotiations and refrained from identifying the specific Canadian tariffs he mentioned.

His observations suggested he does not consider an early resumption of trade negotiations alongside Ottawa as an urgent priority, despite expressing confidence that the ongoing trade dispute would ultimately reach a resolution.

The US President underscored the perceived imbalance characterising the commercial relationship binding the two nations.

President Trump noted, "You know, Canada does all their business with us, we do very little business with them."

He added, "And all we ask of one thing in Canada, they have to be honest. They are not honest with the United States; they've been ripping us off for years."