04:49 PM EDT, 10/07/2025 (MT Newswires) -- (Adds commentary from representative of Canadian team after White House meetings from paragraph 7 to 13.)

After six consecutive days of record closes, the Toronto Stock Exchange fell Tuesday on some profit taking and on investor nerves around Canada's chances of bringing a trade war with the United States to an end, and at what cost if it does.

The S&P/TSX Composite Index closed down 180.16 points, or 0.6%, to 30,351.72 with sectors mixed, and none of them falling or rising by as much as 1%.

On the trade front, Prime Minister Mark Carney on Tuesday told U.S. President Donald Trump that Canada is the U.S.'s largest foreign investor, investing half of a $1 trillion over the last five years, and "probably $1 trillion in the next five years, if we get the agreement that we expect to get", according to a transcript read on Canada's CBC TV related to commentary from the Canadian Prime Minister during his trade talks at the White House.

Carney's comments created a stir as to what exactly was meant. Pierre Poilievre, the leader of the opposition Conservatives, latched on to this confusion during Question Time in parliament back in Ottawa.

According to one reporter on CBC TV, Carney appeared to be talking about private sector rather than government investment in the U.S., but Poilievre saw it as meaning companies and private sector entities will actually move to the United States.

All of this comes as Canada's deficit in goods trade ballooned to $6.3 billion in August, from a revised $3.8 billion in the prior month and not far from the widest point recorded in April.

Canada-U.S. Trade Minister Dominic LeBlanc briefed the media at 4:00 p.m. ET, and market watchers were looking for him to clear up matters as to what exactly Carney and Trump spoke about and what, if any, agreements have been struck during their meeting.

According to LeBlanc, the Canadian team had a "successful, positive, substantive conversation" with their U.S. counterparts on trade and international issues. He said the conversation was "more detailed" than at previous meetings, with President Trump "very engaged".

LeBlanc added talks will continue to "quickly land deals" that will bring "greater certainty" to areas such as steel, aluminum and energy. MT Newswires notes the auto sector was not included among the areas cited.

Also, LeBlanc confirmed PM Carney did talk about substantial investments by private corporations and institutional investors, such as pension funds that have already massively invested in the U.S. economy to the tune of more than $500 billion. "We believe over the next five years that could double," he said.

LeBlanc said Carney spoke, for example, about how Canada can contribute more to the energy security of the U.S. through private corporations and institutions.

When asked were Canada and the U.S. headed towards a quota system in their trade dealings, LeBlanc said one needed to be careful drawing a straight line between the idea of having 'formula' for trade dealings, as President Trump alluded to today, and having 'quotas'.

LeBlanc when asked has Canada joined the 'Golden Dome' defence system, said Canada wants to be a "constructive partner" as the Americans "elaborate" on the details, with talks ongoing.

Of commodities today, gold had continued its record run higher late afternoon on Tuesday as the precious metal rose above US$4,000 mark for the first time on strong demand. Gold for December delivery was last seen up $27.30 to US$4,003.60 per ounce.

Also, West Texas Intermediate oil closed with a small gain, the third-straight day of gains as traders assess the risks of supply disruptions amid an over-supplied market. WTI crude oil for November delivery closed up $0.04 to settle at $61.73 per barrel, while December Brent crude was last seen down $0.06 to $65.41.