America 'not at war' with Canada, insists U.S. Treasury Secretary Scott Bessent

This article is new today!

Source: CBC Politics
Date: 2026-08-31 18:00:16.0
Tags: [National, Trade, Economy, Finance, Defence]

United States Treasury Secretary Scott Bessent dismissed claims of a trade war with Canada during an interview with CNBC, criticizing Prime Minister Mark Carney for walking away from a trade deal and imposing 50 percent retaliatory tariffs on roughly $28 billion worth of Canadian exports. The U.S. previously imposed these tariffs after trade negotiations collapsed due to disputes over auto industry terms, restrictions on foreign trade deals, and protections for French-language media and bilingual product labelling. Finance Minister François-Philippe Champagne is scheduled to meet with Bessent and G20 counterparts in Asheville, North Carolina, while provincial leaders including Alberta Premier Danielle Smith have voiced concerns that the ongoing tariff escalations will harm small businesses and regional economies.

‘We’re not at war with Canada,’ U.S. treasury secretary says

This article is new today!

Source: Global News Politics
Date: 2026-08-31 16:16:06.0
Tags: [National, Trade, Economy, Defence]

U.S. Treasury Secretary Scott Bessent stated that the United States is not at war with Canada amidst escalating cross-border trade negotiations and tariff disputes involving Prime Minister Mark Carney. Recent polling indicates strong Canadian public support for walking away from U.S. trade talks and implementing retaliatory trade measures. The remarks follow stalled trade discussions and subsequent friction over economic policies between the Trump administration and Canadian federal officials.

Canada has leverage in this trade fight, but economists warn it comes with a cost

Source: CBC Politics
Date: 2026-08-30 08:00:00.0
Tags: [National, Trade, Economy, Energy, Resources, Defence]

In response to the Trump administration imposing 50 per cent tariffs on approximately $27 billion worth of Canadian goods, Canadian federal officials and economists are weighing various economic levers, including export taxes and quotas on energy and potash, where Canadian commodities account for 63 per cent of U.S. oil imports and 80 per cent of potash imports. Additional retaliatory options discussed include restricting American access, altering defense procurement such as the F-35 fighter jet program, divesting from U.S. treasury bonds held by Canadian entities valued at $459.6 billion USD, and implementing non-tariff measures like the Digital Services Tax. While Prime Minister Mark Carney and industry minister Mélanie Joly have enacted $28 billion in retaliatory tariffs and paused negotiations over trade disputes, economists warn that aggressive retaliatory measures could inflict greater short- and long-term economic damage on Canada than on the United States.

Canada ready to further distance itself from U.S. on military procurement

Source: CBC Politics
Date: 2026-08-29 08:00:00.0
Tags: [National, Defence, Trade, Industry, Technology]

Ottawa is shifting its military procurement strategy away from the United States amid ongoing tariff disputes, aiming to reduce reliance on American contractors and the International Traffic in Arms Regulations (ITAR) framework. Stephen Fuhr, head of the Defence Investment Agency, stated that the public has no appetite for sole-source American military contracts, putting procurements like Lockheed Martin F-35 fighter jets and potential Black Hawk helicopters under review. Concurrently, Canada is pursuing European and domestic alternatives, including negotiations with Swedish firm Saab for Gripen fighter jets and GlobalEye radar aircraft, and awarding a $2.3-billion Arctic military satellite communications contract to Telesat to reduce reliance on Elon Musk's SpaceX Starlink network.