Carney Says US Wanted to ‘Wipe Out’ Canadian Industries in Trade Talks

Prime Minister Mark Carney explained Tuesday why he suspended trade talks with the US last month. Speaking to reporters gathered outside his office, he said Washington’s position amounted to turning Canadian industries into US subsidiaries, or seeing them “gradually wound down in Canada and wiped out.” “Of course, we’re not going to accept those terms,” he said.

There were “mutually beneficial” elements of a deal on the table before Carney suspended negotiations ahead of a US-imposed August 22 deadline, but Washington’s demands on the auto sector and Canadian sovereignty went too far. Canada remains open to resuming talks once the US is ready for serious discussion, he added, telling reporters the Americans first need to “stop doing memes, stop throwing shade, stop trying to be tough.”

That’s a pointed reference to weeks of public trolling from the Trump administration, including a presidential order rebranding Lake Ontario as “Lake America” and a running stream of AI-generated memes ridiculing Canada across Trump’s cabinet.

Altamira Gold Corp. — sponsored Sponsored · Altamira Gold Corp.

Read: Carney Meets With Canadian Business Leaders on US Trade Relations

Carney raised the suspended talks in a separate meeting with labour leaders later Tuesday, a day after holding a similar session with 23 business leaders. The labour meeting included representatives from Unifor, the United Steelworkers, Canada’s Building Trades Unions, the United Food and Commercial Workers, and Teamsters Canada, according to a Prime Minister’s Office release. 

Canadian Labour Congress President Bea Bruske, who attended alongside chief trade negotiator Janice Charette and Jobs Minister Patty Hajdu, said the session let unions “unpack the challenges and concerns that labour has in this moment.”

According to Bruske, the room was largely unified behind Ottawa’s choice to walk away from the table, and her organization wants stronger EI protections put in place for workers caught in the tariff crossfire. Canada’s own counter-tariffs, covering nearly $28 billion in US goods, remain in place.

Information for this briefing was found via the sources and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
Video Articles

Mining Stock Mailbag: Hycroft, Vizsla, K92, Goliath & More | Oct. 5-9, 2026

Why Investors Are Returning To Mining Stocks | Rob McLeod – Cambria Gold Mines

How This Gold Stock Delivered a 32X Return | Martino De Ciccio – Montage Gold

Recommended

First Majestic Produces 3.4 Million Ounces of Silver in Q3 2026, Jerritt Canyon Restart Remains on Track

Altamira Gold Drills 134 Metres of 0.5 g/t Gold at Maria Bonita, Hole Ends in Mineralization

Related News

Carney Warns Canada’s US Ties Have Turned Into Economic Weakness Amid Trade Risks

Prime Minister Mark Carney delivered a direct address to Canadians, pitching his government’s “Canada Strong”...

Sunday, April 19, 2026, 01:23:27 PM

Why Potash Has Never Been Part Of Trump’s Canada Tariffs

Every round of Canada tariffs Trump has signed this year, from the 50% duties to...
Tuesday, September 22, 2026, 01:15:45 AM

Ottawa Cuts Its Own Federal Spending-Cut Commitments

The Carney government has already softened its signature restraint plan, reducing savings targets for eight...

Saturday, November 15, 2025, 03:10:00 PM

Tax Cuts Take Center Stage in Canadian Election Campaign

Canada’s federal party leaders are competing to offer voters the most attractive tax cuts ahead...

Tuesday, March 25, 2025, 10:04:00 AM

Carney Claims Canada Has “Some Of The Cheapest Gas In The World”, But Is It True?

Prime Minister Mark Carney, in his speech explaining the country’s national electricity strategy, claimed that...

Friday, May 15, 2026, 10:22:21 AM