Banff, Canada - Canadian Prime Minister Mark Carney brushed off President Donald Trump's latest escalation, telling reporters that he doesn't plan on responding to the "modest" alcohol ban.

"We're always ready to sit down in a professional way to negotiate," Carney said on Tuesday during a press conference in Alberta. "We think there is a mutually beneficial deal possible that respects our sovereignty and is in the interests of both countries."

"We fully recognize that for individual companies and in individual sectors, these are significant," Carney said of the latest round of measures introduced by the US this week.

"I would also recognize that in the context of other things that the US administration has done – other measures the US administration has done – that these are relatively modest measures," he explained.

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The comments came in response to a question about Canada's plans to counter a ban of Canadian alcohol and a range of other products introduced by the Trump administration.

Trump introduced the ban, which will come into effect on September 29, on Tuesday. He also announced a 50% surcharge on a range of Canadian products including mattresses, motorboats, and golf cats, which will begin on September 15.

These measures were introduced directly after Canada's retaliatory tariffs came into effect early on Tuesday, slamming about $20 billion worth of US exports across the northern border.

Earlier on Thursday, Carney revealed that while tensions are high between Ottawa and Washington, communications are still ongoing between the two nations.

"We believe there is a mutually beneficial deal for Canada and the United States," Carney had said in Calgary amid a summit with Ukrainian President Volodymyr Zelensky.

"I speak regularly to the president, President Trump. I've spoken to him in recent days," he said.