Trump spoke to reporters at the White House about the tariff deal with Canada, and added a couple of comments on Iran. On Canada, Trump said “we’ve come to a deal” following what he described as a good conversation with Canada's Prime Minister Carney. He reiterated, however, that the agreement remains subject to finalisation, meaning the deal is not yet fully locked in. The comments follow the three-day pause on the planned 50% tariffs.Trump's comments are supportive for the Canadian dollar, although much of the breakthrough has already been priced in and the loonie is just benefiting from US dollar weakness. Trump also commented on the situation around the Strait of Hormuz, saying that a large number of vessels had passed through the waterway overnight. He added that negotiations with Iran “may be at some point”.Trump also said that oil prices will be “a lot lower” when the war is over. This would be, of course, the result from normalisation of supply flows and shipping through Hormuz.Right now, the surprising US Treasury announcement is what is driving markets. It certainly doesn't look good for inflation if the US-Iran situation isn't resolved soon. This article was written by Giuseppe Dellamotta at investinglive.com.