Bessent warns Canada risks ‘disaster’ amid trade tensions with US

Finance Minister Scott Bessent warned that any transfer by Canada to economically break free from the USA can be “a catastrophe,” dismissing Prime Minister Mark Carney’s latest feedback as unrealistic and traditionally deceptive.

‘Canada relies on the US. There may be much more North-South commerce than there might ever be East-West commerce,” Bessent mentioned on “Hannity” on Monday.

“He [Carney] There’s discuss of center international locations having to do their very own factor, and I am sufficiently old to recollect French President François Mitterrand making an attempt to go that route. It failed within the ’80s, and it’ll fail now.”

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Treasury Secretary Scott Bessent speaks with members of the media exterior the White Home on November 5, 2025. (Eric Lee/Bloomberg by way of Getty Pictures)

Bessent argued that Carney ought to focus much less on pushing a “globalist agenda” and as an alternative do “what’s finest for the Canadian individuals.”

Carney mentioned Sunday that Canada has no plans to pursue a free commerce cope with China, opposing President Donald Trump’s 100% tariff menace.

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Prime Minister Mark Carney delivers a speech on the World Financial Discussion board in Davos, Switzerland, on January 20, 2026. (Harun Ozalp/Anadolu by way of Getty Pictures)

Carney mentioned Canada’s latest cope with China solely rolled again tariffs in sectors which have been hit in recent times and doesn’t quantity to a free commerce settlement.

He highlighted “center international locations” like Canada throughout a speech on the World Financial Discussion board assembly in Davos, Switzerland, final week. suggests greater powers ought to not decide the phrases of the worldwide financial order.

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Though Carney didn’t refer on to Trump, his feedback have been extensively seen as a rebuke of Washington’s latest commerce stance.

Bessent claimed that Carney “aggressively” retracted a few of his feedback throughout a name with Trump within the Oval Workplace on Monday, though there was no public assertion from the prime minister confirming the retraction.

Stephen Sorace of Fox Information contributed to this report.