Treasury Secretary Bessent Warns Prime Minister Carney Before USMCA Review

U.S. Treasury Secretary Scott Bessent told Canadian Prime Minister Mark Carney in a CNBC interview on Jan. 28, 2026 not to 'pick a fight' ahead of the USMCA review.

Mark Carney used a Jan. 20, 2026 World Economic Forum speech in Davos to condemn economic coercion, and President Donald Trump later threatened a 100% tariff on Canadian goods, presidential statements show.

Bessent told Fox News that Carney 'was very aggressively walking back' his Davos remarks after a call with Trump, while Carney's office said Carney 'meant what I said in Davos,' creating conflicting accounts.

The U.S.-Mexico-Canada Agreement, signed in 2020, is the formal review's framework and would govern tariff protections against Trump's proposed 100% tariff, records and officials show.

Treasury officials said negotiators expect talks to continue and urged restraint in public rhetoric, warning that escalatory comments could complicate USMCA negotiations in coming weeks.