United States Treasury Secretary Scott Bessent emphasized that there is no conflict between his country and Canada, dismissing any potential threat from Canada by joking about submarines from the Edmonton mall. He also implied that Prime Minister Mark Carney is responsible for the ongoing tensions between the two nations, suggesting that perpetuating the dispute benefits his popularity ratings.
During an interview with CNBC, Bessent downplayed the idea of a trade war with Canada, highlighting the vast difference in size between the two nations. He humorously questioned the possibility of Canada using submarines from the Edmonton mall against the U.S.
Today, directing submarines from Edmonton towards the U.S. would be impractical. Although the West Edmonton Mall previously had recreational submarines for tourists, they were decommissioned in 2012. Despite this, the verbal sparring between the Trump administration and Canada intensifies following the breakdown of a recent trade agreement.
Carney recalled withdrawing Canada’s negotiating team due to last-minute changes proposed by the U.S., which were deemed unfair and economically disadvantageous. The demands would have constrained Canada’s trade agreements with other nations and jeopardized French-language media subsidies and bilingual product labeling regulations. Carney also expressed concerns about the long-term impact of the auto deal proposed by the U.S. on the industry.
Subsequently, the U.S. imposed 50% tariffs on around $28 billion worth of Canadian exports, prompting Canada to reciprocate starting on September 8. Bessent criticized Carney for escalating the situation, accusing him of prioritizing political gains over the well-being of Canadians.
Finance Minister François-Philippe Champagne is set to engage with his G20 counterparts in Asheville, N.C., to reaffirm Canada’s commitment as a dependable trading partner amid global uncertainties.
Meanwhile, Alberta Premier Danielle Smith emphasized on American television that ongoing trade disputes with the U.S. will detriment both nations, particularly impacting small businesses and leading to layoffs. Smith advocated for a return to negotiations to alleviate the strain on relations between the two countries.