U.S. Treasury Secretary Scott Bessent arrives at the G20 meeting on Monday. Mr. Bessent says he plans to meet with his Canadian counterpart.ALLISON JOYCE/AFP/Getty Images
U.S. Treasury Secretary Scott Bessent said he plans to meet with his Canadian counterpart this week at a gathering of G20 central bank governors and finance ministers in Asheville, N.C.
Mr. Bessent made the remarks when he was speaking with CNBC on Monday. He added that Prime Minister Mark Carney has turned the collapse of trade negotiations between the two countries “into a political shouting match” for personal political gain.
Mr. Carney was offered “the best trade deal of any country on the globe,” and he chose to walk away, Mr. Bessent said on the first day of the two-day G20 meeting.
“It’s unfortunate that he’s not doing what’s best for the Canadian people. He’s doing what is best for the Liberal Party, what’s best for Mark Carney, and in the long run, the Canadian people are going to see through that,” Mr. Bessent said.
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Finance Minister François-Philippe Champagne’s spokesperson, John Fragos, confirmed the minister and the U.S. Treasury Secretary will meet this week to discuss a range of issues. He did not directly address Mr. Bessent’s latest remarks.
Mr. Bessent also dismissed talk of a trade war with Canada.
“We’re not at war with Canada,” Mr. Bessent said. “How are we going to be at war with Canada? What are they going to do, take their two-cent submarines from the Edmonton Mall and sic them on us?”
Mr. Bessent’s reference to Canadian submarines alludes to the recreational underwater submarine ride that once operated inside the West Edmonton Mall. The ride closed in 2005 and its submarines were removed in 2012.
The U.S. Treasury did not immediately confirm who Mr. Bessent would be meeting with or what they planned to discuss.
Trade talks between Canada and the U.S. collapsed suddenly on Aug. 21, with each country’s representatives later pointing the finger at the other over last-minute demands.
Mr. Carney met virtually Monday with a group of business leaders to discuss the latest developments on the trade and economic front. The Prime Minister’s Office listed 23 companies and organizations that took part, including representatives from the agriculture, banking, energy, manufacturing, pension, technology and transportation sectors.
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Meanwhile in Hamilton, Artificial Intelligence Minister Evan Solomon compared the situation between the two countries to a fight in hockey.
“I know we’re in a bit of a scrap here, but we know, in the end, when the whistle blows, we’re going to shake hands and we’ll be partners again,” he said. “We are going to remain calm. When there is a good faith deal, we will get back to the bargaining table. We are not interested in prolonging this, but we are not interested in taking less than we need.”
Mr. Solomon, who also oversees the federal regional development agency for Southern Ontario, held a news conference to announce details related to business supports Ottawa outlined last week.
In response to U.S. President Donald Trump’s imposition of 50-per-cent tariffs on about $28-billion of Canadian goods, Ottawa’s dollar-for-dollar countertariffs are scheduled to take effect Sept. 8.
The trade rift is deepening as the U.S. economy is feeling the strain of its conflict with Iran, particularly at the gas pumps.
After the suspension of talks, Mr. Carney said his government will continue its efforts to expand trade with other countries.
He is scheduled to address the EU Parliament in mid-September and recently told reporters that Canada will begin “intense discussions” with the bloc this fall focused on deepening economic and security ties.
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Foreign Affairs Minister Anita Anand said in a statement she will be travelling this week to Wicklow, Ireland. She will be the first Canadian foreign minister to join an informal meeting of European Union foreign affairs ministers, known as a Gymnich.
She said her attendance will help set the stage for a Canada-EU Leaders’ Summit scheduled for Oct. 29-30 in Canada.
Alberta Premier Danielle Smith told Fox Business a trade war will be bad for small businesses on both sides of the border.
“I think Canadians are confused. I think they’re disappointed,” she said when asked how Canadians feel about Mr. Trump and his decision to rename Lake Ontario to Lake America.
Ms. Smith expressed hope that trade negotiations could resume.
“We came very close to a deal. I think if we just get the two principals – the United States President and our Prime Minister Mark Carney – if we get them talking to each other, I think we can resolve this.”