U.S.–Canada Relations

After President Trump threatened Canada with 100% tariffs over its limited new trade deal with China, Carney said he told Trump on a follow‑up call that he "meant what I said" in his Davos remarks, directly contradicting Treasury Secretary Scott Bessent’s account that he had softened his stance. Carney also outlined a plan to sign 12 new trade deals across four continents within six months and double non‑U.S. exports over the next decade to reduce dependence on the U.S., reiterated Canada has no interest in a comprehensive China deal, and said he and Trump discussed Ukraine, Venezuela and Arctic security.

Speaking at Davos on Jan. 21, Trump told Canada "lives because of the United States" and directly addressed former Bank of England governor Mark Carney—saying "remember that, Mark"—in response to Carney’s warning that the world order is being ruptured. He also repeated his claim that the 2020 election was "rigged," said Russia’s invasion of Ukraine "wouldn't have started" if it weren't, and asserted "people will soon be prosecuted" over the 2020 outcome without specifying who or what charges; mainstream accounts note Joe Biden won 306 electoral votes to Trump’s 232 and that fraud allegations have been broadly refuted.