The Trump administration is once again increasing its verbal pressure on Canada, with U. S. Treasury Secretary Scott Bessent issuing a new warning to Prime Minister Mark Carney regarding the upcoming trade negotiations.
Bessent attended an event in Washington, D. C., on Wednesday to unveil what U. S. President Donald Trump has labeled “Trump Accounts,” a financial initiative for kids.
In an interview with CNBC’s Sara Eisen, Bessent was asked about the disagreement between Trump and Carney over the prime minister’s attention-grabbing speech at the World Economic Forum in Davos, Switzerland, last week.
“I would just encourage Prime Minister Carney to do what he thinks is best for the Canadian people, not his own virtue signalling, because we do have a USMCA negotiation coming up,” Bessent stated, using the American acronym for the Canada-U. S.-Mexico Agreement (CUSMA).
“I would not pick a fight going into USMCA to score some cheap political points.”
WATCH | U. S. Treasury Secretary has some advice for Canada’s PM:
Scott Bessent warns Carney not to ‘pick a fight’ with Trump ahead of trade talks
U. S. Treasury Secretary Scott Bessent commented on U. S. President Donald Trump and Prime Minister Mark Carney’s relationship after Carney’s headline-grabbing speech at the World Economic Forum in Davos, Switzerland. He told CNBC’s Sara Eisen ‘I would not pick a fight going into USMCA to score some cheap political points.’
Bessent mentioned that Carney “rose to power on an anti-American, anti-Trump message, and that’s not a great place to be when you’re negotiating with an economy that is multiples larger than you are and your biggest trading partner.”
After imposing tariffs on various Canadian exports to the United States in 2025, the Trump White House has recently been threatening significant alterations to CUSMA as it approaches review this year.
Those threatened changes include Trump suggesting that the U. S. doesn’t need the agreement at all, despite strong support for it among American industries.
Carney denies U. S. claims he walked back Davos speech
Contrary to comments from U. S. officials, Prime Minister Mark Carney stated he informed the president that he stands by his remarks made during his speech in Davos, Switzerland about world powers.
Trump and his officials have frequently targeted Carney since he spoke in Davos about “American hegemony” and cautioned that “great powers have begun using economic integration as weapons, tariffs as leverage.”
Last Thursday , Trump rescinded his invitation for Carne yto joinhis newly created “Boardof Peace,” which includes around three dozen leadersfrom countries like El Salvador, Hungary , Israel, Pakistan , and Saudi Arabia , with Trumpasitschairmanforlife.
On Saturday, in asocialmediapostreferringto Carne yas“Governor,”Trumpthreatenedtoimposeatariffof100%onall Canadian goodsif Canada“makesadealwith China.”
U. S. Commerce Secretary Howard Lutnickcriticized Carne y’sspeechas“politicalnoise”in amediainterviewin Davos,“Givemeabreak, theythesecond-best[trade]dealintheworldandall Igottodoislistenthisguywhineandcomplain,”hesaid.
Carne yhasstatedthattherepercussionsfromthe Trumpadministration“shouldbeviewedinthebordercontext”oftheupcoming CUSMArenegotiations.
Canada, the U. S. and Mexico mustindicateby July1whether theywanttoextendtheagreement , renegotiateitstermsorletitexpire.
U. S. Trade Representative Jamieson Greer metwithhis Mexicancounterparton Wednesdaytodiscussthe CUSMAreview.
Thepairagreedtobeginformaldiscussionsonpossible reformstoagreement,“includingstrongerrulesoforiginforkeyindustrialgoods, en hanced collaborationoncriticalminerals, and increasedexternaltradepolicyalignment,”accordingtoastatementfrom Greer’soffice.
Formal discussionsbetween Canadaandthe U. Shavenotyetbegun.
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Scott Bessent warns Carney not to ‘pick a fight’ with Trump ahead of trade talks
U. S. Treasury Secretary Scott Bessent commented on U. S. President Donald Trump and Prime Minister Mark Carney’s relationship after Carney’s headline-grabbing speech at the World Economic Forum in Davos, Switzerland. He told CNBC’s Sara Eisen ‘I would not pick a fight going into USMCA to score some cheap political points.’
Bessent mentioned that Carney “rose to power on an anti-American, anti-Trump message, and that’s not a great place to be when you’re negotiating with an economy that is multiples larger than you are and your biggest trading partner.”
After imposing tariffs on various Canadian exports to the United States in 2025, the Trump White House has recently been threatening significant alterations to CUSMA as it approaches review this year.
Those threatened changes include Trump suggesting that the U. S. doesn’t need the agreement at all, despite strong support for it among American industries.
‘It never really works out well’
At Wednesday’s event, Bessent also criticized Carney’s shift into politics after previously serving as governor of both the Bank of Canada and the Bank of England. “In my investment career, I’ve seen what happens when a technocrat tries to pivot and become a politician. It never really works out well,” he said. Bessent’s recent remarks follow his claim that Carney backtracked on his statements from Davos during a phone call with Trump on Monday. On Tuesday, Carney denied changing his position. “To be absolutely clear, and I said this to the president, I meant what I said in Davos,” Carney told reporters on Parliament Hill. WATCH | Carney gives his version of latest phone call with Trump:
Carney denies U. S. claims he walked back Davos speech
Contrary to comments from U. S. officials, Prime Minister Mark Carney stated he informed the president that he stands by his remarks made during his speech in Davos, Switzerland about world powers.
Trump and his officials have frequently targeted Carney since he spoke in Davos about “American hegemony” and cautioned that “great powers have begun using economic integration as weapons, tariffs as leverage.”
Last Thursday , Trump rescinded his invitation for Carne yto joinhis newly created “Boardof Peace,” which includes around three dozen leadersfrom countries like El Salvador, Hungary , Israel, Pakistan , and Saudi Arabia , with Trumpasitschairmanforlife.
On Saturday, in asocialmediapostreferringto Carne yas“Governor,”Trumpthreatenedtoimposeatariffof100%onall Canadian goodsif Canada“makesadealwith China.”
U. S. Commerce Secretary Howard Lutnickcriticized Carne y’sspeechas“politicalnoise”in amediainterviewin Davos,“Givemeabreak, theythesecond-best[trade]dealintheworldandall Igottodoislistenthisguywhineandcomplain,”hesaid.
Carne yhasstatedthattherepercussionsfromthe Trumpadministration“shouldbeviewedinthebordercontext”oftheupcoming CUSMArenegotiations.
Canada, the U. S. and Mexico mustindicateby July1whether theywanttoextendtheagreement , renegotiateitstermsorletitexpire.
U. S. Trade Representative Jamieson Greer metwithhis Mexicancounterparton Wednesdaytodiscussthe CUSMAreview.
Thepairagreedtobeginformaldiscussionsonpossible reformstoagreement,“includingstrongerrulesoforiginforkeyindustrialgoods, en hanced collaborationoncriticalminerals, and increasedexternaltradepolicyalignment,”accordingtoastatementfrom Greer’soffice.
Formal discussionsbetween Canadaandthe U. Shavenotyetbegun.Source link
