United States Treasury Secretary Scott Bessent downplayed any notion of a trade war with Canada and instead made light of the idea of Canada posing a threat with “submarines from the Edmonton mall.” Bessent also suggested that Prime Minister Mark Carney was fueling the current tensions between the two countries for political gain.
During an interview with CNBC, Bessent emphasized that his country, being significantly larger than Canada, was not engaged in a tit-for-tat situation. He humorously questioned the idea of Canada using submarines from a mall in Edmonton as a military strategy.
Notably, the submarines once present at the West Edmonton Mall for tourist rides have been dismantled since 2012, rendering any such threat obsolete. Despite this, the verbal sparring between the Trump administration and Canada has intensified following the breakdown of a recent trade deal.
Prime Minister Carney halted negotiations after deeming last-minute changes proposed by the U.S. unfair and economically unsound. The demands would have constrained Canada’s ability to engage in other trade agreements and impacted vital sectors such as the auto industry and media.
In response, the U.S. imposed significant tariffs on Canadian exports, prompting Canada to reciprocate. Bessent criticized Carney for politicizing the situation and suggested that the Prime Minister’s actions were driven by personal and party interests rather than the welfare of Canadians.
Finance Minister François-Philippe Champagne is set to engage with G20 counterparts in North Carolina to reinforce Canada’s commitment to stable trade relationships amid global uncertainty. Meanwhile, Alberta Premier Danielle Smith emphasized on American media that the ongoing trade dispute will harm both nations, advocating for a return to negotiations despite strained relations.