With the recent agreement by Canadian Prime Minister Mark Carney, Chinese auto manufacturers are now rushing to establish the dealerships, before the Beijing-Canada deal becomes an issue in the USMCA negotiation.
China is NOT going into Canada because they foresee a great market of Snow Mexicans purchasing their low price EVs. They are going into Canada as a proactive measure to establish a North American footprint with an eye toward the USA.
(VIA MSM) – BYD and Chery are accelerating plans to establish a dealership network in Canada after the country introduced a quota allowing tens of thousands of Chinese-made EVs to enter at reduced tariffs. The rollout will begin in Toronto before expanding to other major cities, with BYD targeting about 20 dealerships in its first year. This marks a significant new front in North American EV competition, as Chinese automakers seek growth outside the U.S., where prohibitive tariffs keep them out.
Canada’s updated trade policy allows 24,500 Chinese-made EVs annually at a reduced 6.1% duty, giving BYD and Chery a rare North American entry point. This follows China’s surge to become the world’s top vehicle exporter, with similar pushes into Mexico, Europe, and Latin America. The quota’s scale is modest but strategically valuable for testing market response and building brand awareness.
The companies will launch in Toronto before moving into Vancouver, Montreal, and Calgary. BYD aims for around 20 dealerships in its first year, using consultants and internal teams to secure prime sites. While the network could strengthen visibility in key urban markets, experts warn the quota’s limited volume may test the viability of multiple outlets.
With U.S. tariffs exceeding 100% effectively barring entry, Canada offers Chinese automakers a platform to establish presence, gauge consumer interest, and potentially influence future trade talks. Similar strategies have been used in Europe, where Chinese EV makers have gained ground despite strong local competition. Success in Canada could pave the way for local assembly or increased quotas. (read more)
Posted originally on CTH on March 23, 2026 | Sundance
This is one of those small stories that carries the potential for significant domestic economic gains.
As many are aware, the U.S. imports a lot of softwood lumber from Canada. Combined with the energy products the lumber sector represents the top two U.S. imports from Canada. With Venezuela now potentially positioned to replace the former, USDA Rural Development now stimulates domestic lumber development potentially positioned to replace the latter.
Taken as a whole, these two approaches significantly weaken the Canadian leverage that could be deployed in a Free Trade Agreement negotiation. Assuming, of course, the USMCA is dissolved in favor of two bilateral FTAs.
USDA Press Release – At the Advanced Bioeconomy Leadership Conference today, U.S. Department of Agriculture Administrator for the Rural Business and Cooperative Service J.R. Claeys announced the U.S. Department of Agriculture is guaranteeing $115.2 million across eight states through the Timber Production Expansion Guaranteed Loan Program (TPEP) to ensure sawmills and other wood processing facilities have the necessary funding to establish, reopen, expand, or improve their operations.
Today’s announcement includes recipients in the states of California, Idaho, Kansas, Louisiana, Maine, Oklahoma, Virginia, and Wisconsin.
These investments represent a commitment by the Trump Administration to expand American timber production by 25%, reduce wildfire risk, and save American lives and communities by strengthening domestic wood processing capacity.
“We cannot allow wildfires to devastate and destroy our rural communities,” said Administrator Claeys. “That’s why the USDA is taking bold action to stop the destruction of our forestlands by investing in sawmills and wood processing facilities that support sustainable timber harvesting. These actions strengthen local businesses, support rural prosperity, and create jobs for hardworking Americans.” (source)
This is not to say that expanded U.S. sawmill production would completely eliminate Canadian softwood lumber imports. However, it does create inventory and a stronger domestic supply chain that would diminish any applied leverage that Canadian trade negotiators would seek to deploy.
Without pipelines flowing East or West, Canada is stuck pumping their heavy oil south for processing. Nothing about that is likely to change in the next few years, even if Canada abandoned their climate change policy (highly unlikely).
Then comes the cross-border auto manufacturing industry, and the realization that -sans USMCA- both U.S. and Japanese automakers are likely to stick with the manufacturing center where their greatest customer base exists, the USA.
Now overlay softwood lumber, and you can see the top three economic dependencies of the U.S and Canada are slowly being uncoupled, simultaneous with the trilateral USMCA provisions being reviewed starting with the U.S. and Mexico having direct conversations.
Posted originally on CTH on March 12, 2026 | Sundance
It is transparently obvious now that Canada is going to rely on UniParty (Corporate) opposition to President Trump in the dissolution of the USMCA (CUSMA) in favor of two distinctly different bilateral trade agreements; one with Canada and one with Mexico.
A bilateral trade negotiation between the United States and Canada would be devastating to the interests of the Canadian government. Particularly after the Venezuela operation and new strategic relationship with the United States, Canada has almost zero points of leverage to negotiate anything similar to their current exploitative trade position.
Canada is going to rely on congress to stop Trump from forcing reciprocity in the bilateral discussions. However, as a positive indicator that President Trump will factually have congressional support for the elimination of the USMCA, Democrat Senator Ruben Gallego has written a letter to President Trump requesting a comprehensive review. [LETTER HERE]
This is a key Senate democrat who notes the problem. One of Gallego’s top points of concern is the loophole that Canada uses to assemble Chinese component parts into finished goods for tariff free distribution into the United States.
Ever since President Trump won the 2024 election, Mexico has been taking proactive independent action to block Chinese component goods. But Canada has done the opposite and begun to enhance their trade relationship with China to take even more Chinese component and finished goods.
Gallego writes to U.S. Trade Representative Jamieson Greer from the position of wanting to increase wages and enhance jobs in both Mexico and the USA, growing both economies. However, Gallego’s advocacy simultaneously bolsters why the USMCA should be dissolved and also puts Canada at a distinct disadvantage.
MEXICO – Mexico’s President Claudia Sheinbaum told reporters during her morning news briefing on Wednesday that her U.S. counterpart, Donald Trump, is open to doing away with the U.S.-Mexico-Canada trade agreement (USMCA) and replace it with individual trade deals with each country.
[…] “There might be revisions that create bilateral deals instead of involving the three countries because some things are more important between Mexico and the United Sates or between Canada and the United States,” said Sheinbaum. “Not everything has to be trilateral.”
Mexico’s president said the subject was brought up by Trump during a Tuesday phone conversation. […] According to Sheinbaum, her country is ready to consider possible changes. (read more)
Just like the original NAFTA dissolution, if Senate democrats agree the USMCA is structurally flawed then Canada will lose its only hope to retain the trilateral agreement.
It appears that some Senate democrats like Gallego recognize this issue and support the need for exceptional change.
There is a significant difference between Mexico and Canada as it pertains to trade. Two distinctly different bilateral trade agreements would be the best outcome for the USA.
Team Mexico have already been holding bilateral discussions with USTR Jamieson Greer, and I suspect the broad outlines of a free trade agreement between the U.S and Mexico have already been agreed.
While Mexico has been working diligently for 16 months to get into alignment with the USA on a new free trade agreement, Canada has been doing everything possible to retain their “elbows up” position in opposition to the USA. This will not work out well for Canada.
“The key thing that has struck me, and I think it has struck all Canadians, is so many of these guys in the Trump administration, frankly, they just hate Canada,” said Brian Clow, former Prime Minister Justin Trudeau’s deputy chief of staff who led Canada-U.S. affairs. {source}
Posted originally on CTH on March 8, 2026 | Sundance
One of the most curious aspects to the predictable USMCA review, ie. dissolution, has been the incapacity of the Canadian government or trade delegation to accept the United States is going to create two distinctly different bilateral trade agreements and eliminate the trilateral USMCA.
For 16 months the Canadians have refused to fathom the reality of what is going to happen this year.
The Canadians just cannot believe it is possible they will be forced to negotiate a free trade agreement without the cover of a multilateral construct. It has been remarkable to watch their dissonance.
Last week President Donald Trump and Mexican President Claudia Sheinbaum held a phone call. At the conclusion of the call, Sheinbaum publicly asserted the reality the Canadians just refuse to accept.
MEXICO – Mexico’s President Claudia Sheinbaum told reporters during her morning news briefing on Wednesday that her U.S. counterpart, Donald Trump, is open to doing away with the U.S.-Mexico-Canada trade agreement (USMCA) and replace it with individual trade deals with each country.
[…] “There might be revisions that create bilateral deals instead of involving the three countries because some things are more important between Mexico and the United Sates or between Canada and the United States,” said Sheinbaum. “Not everything has to be trilateral.”
Mexico’s president said the subject was brought up by Trump during a Tuesday phone conversation. […] According to Sheinbaum, her country is ready to consider possible changes. (read more)
Canadian Prime Minister Mark Carney finally started to realize President Trump was likely to ignore Canada and begin direct discussions with Sheinbaum. So, Carney went to Mexico to try and get assurances from Sheinbaum that Mexico would not proceed without Canadian interests in mind.
Essentially, Carney wanted Sheinbaum to be on his team. However, as diplomatically noted in the phone call with President Trump, President Sheinbaum politely rejected the Canadian partnership. [Insert Trump’s position toward Mexican cartels as an overriding thought]
The Canadians have been talking to U.S. media looking for sympathetic ‘Orange man bad’ coverage. However, within the contacts between Canadian government officials and U.S. corporate allies, the sentiment from team Trump is very clear:
“The key thing that has struck me, and I think it has struck all Canadians, is so many of these guys in the Trump administration, frankly, they just hate Canada,” said Brian Clow, former Prime Minister Justin Trudeau’s deputy chief of staff who led Canada-U.S. affairs. {source}
It’s not hatred, it’s annoyance.
Years of compounding parasitic annoyances and sanctimonious, ‘holier-than-thou’ pontifications from the arrogant and uppity Canadian government.
The only time Canada has been honest with themselves and with President Trump was when Justin Trudeau was exiting office and admitted Canada cannot function without all of the one-way benefits it receives from the USA {GO DEEP}.
That’s it. That’s the only time Canada has ever been honest about the nature of the economic relationship. A time when Trudeau had already quit and would not be around to deal with the consequences. However, the level of Canadian arrogance is not only visible to President Trump, even the Japanese can see it.
Remember that very close relationship between Japanese Prime Minister Sanae Takaichi and President Trump. That professional, personal and respectful relationship is going to become strategically important this year.
Japan’s economic and trade representatives have told the Canadians that if the USMCA is dissolved, and if Canada no longer has the same trade access current available in the trilateral format, then Japan would rethink its entire investment portfolio in Canada, specifically the auto sector.
In essence, specifically as it pertains to the auto industry, Japan is saying if the USMCA is gone, Japan may pull all their cross-border manufacturing out of Canada and transfer it to the United States.
Prime Minister Mark Carney was recently questioned about the statements from Japan and he waxed nonsensically [SEE HERE] about how Canada would use Chinese BYD electric autos to replace lost Toyota manufacturing.
It’s a hot mess for Canada and getting worse.
Last Friday, Canada’s worst nightmare began unfolding:
WASHINGTON– Today, U.S Trade Representative Jamieson Greer and Mexican Secretary of Economy Marcelo Ebrard announced the first round of bilateral discussions in preparation for the Joint Review of the United States–Mexico–Canada Agreement (USMCA).
The ministers instructed negotiators to begin a scoping discussion on the necessary measures to ensure the benefits of the Agreement accrue primarily to the parties, including by reducing dependence on imports from outside the region, strengthening rules of origin, and enhancing the security of North American supply chains.
Ministers expect negotiators to hold the first meeting the week of March 16 and meet regularly thereafter as part of the Joint Review. [LINK]
Right there, you can see the exact same thing that took place in early 2017, when President Trump began organizing a bilateral trade discussion with Mexico only, in advance of his preferred approach to dissolve NAFTA and use two distinctly different bilateral trade agreements to replace it. USTR Robert Lighthizer was working with Mexico only.
USTR Jamieson Greer, the studious protege’ of Lighthizer, now has the task of organizing the USA and Mexico while delaying any substantive contact/discussions with Canada until President Trump is ready to drop the hammer.
I can assuredly say President Trump wants everything outlined and in place for a U.S-Mexico deal before he announces the dissolution (joint review withdrawal) to end the USMCA.
There is little to no chance President Trump wants to renew a trilateral trade agreement that allows Canada to keep exploiting their market access to the U.S. without accepting reciprocity.
Remember, Canada’s main export is energy, and Trump has diminished that leverage through the Venezuela operation. Perhaps another ‘ah-ha’ moment for deep weed walkers. Yes, in addition to giving China a body blow, taking control of Venezuela oil and minerals also weakens the leverage position of Mark Carney. Can you see it now?
Canada has one key card they can leverage, congress.
Prime Minister Mark Carney is counting on the UniParty in Washington DC to stand in his corner against President Donald Trump and block any attempt to end the USMCA. However, this is not going to be a surprise to President Trump, because Justin Trudeau did the same thing in 2018 when he coordinated his approach toward NAFTA through then Speaker of the House, Nancy Pelosi.
As I have said with great eagerness, it is going to be a lot of fun to watch this unfold.
Posted originally on CTH on February 17, 2026 | Sundance
While the government of Canadian Prime Minister Mark Carney has inked a trade agreement with China to accept cheap imported vehicles in exchange for Beijing purchasing some agricultural products, President Trump has promised those cheap Chinese EVs will never cross the border into the USA.
The Canadian polling on the issue has done a remarkable chang in the past few years. Now, the majority of Canadians are willing to purchase cheap Chinese EVs. As outlined by Bloomberg, “More than half of Canadians, or 53%, say that knowing an EV was made in China would have no effect on their purchasing decision, according to a new poll by Nanos Research Group for Bloomberg News.”
Approximately 50,000 Chinese electric vehicles will enter the Canadian market in the first year. “The pact with China includes a provision that part of the quota will be reserved for electric vehicles priced at C$35,000 ($25,700) or less, the government has said.” {SOURCE}
The Canadian government wants a Chinese auto manufacturer, any Chinese auto manufacturer, to build factories in Canada to produce these electric vehicles. Canada wants the jobs and economic activity because Canada is currently bleeding jobs and economic activity due to the trade conflict with the U.S.
Building cheap Chinese EVs in Canada might help offset a few thousand job losses, but building Chinese EVs in Canada only further ensures there will not be a substantive trade agreement between the USA and Canada once the USMCA (CUSMA) is dissolved. [More on that coming]
Meanwhile, Chinese EV company Build Your Dream (BYD) has announced they sold 4.6 million vehicles worldwide last year, far surpassing Tesla and even surpassing all of the Ford global auto manufacturing. BYD is now the sixth largest auto manufacturing company in the world.
[Auto News] […] The 2025 sales figures place BYD at sixth largest among global automakers, meaning Ford slipped to seventh in total global deliveries. Toyota remains the dominant global seller with sales exceeding 10 million units followed by Volkswagen Group, Hyundai Motor (including Kia and Genesis), General Motors, and Stellantis.
BYD’s sixth position in the global automotive sales index is particularly notable for an auto maker that focuses almost exclusively on new energy vehicles (NEVs) — a category that includes battery-electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs). (more)
CTH previously outlined the specific explosion in BYD auto sales HERE. Europe, Russia, Asia and Australia are flooded with cheap Chinese EVs particularly from the BYD brand. Canada is now opening themselves to face the same issue.
Posted originally on CTH on February 9, 2026 | Sundance
Writing on a Truth Social post earlier this evening, President Trump is threatening to block the U.S. side of a new bridge that links Detroit, Michigan to Ontario, Canada:
(Truth Social) – “As everyone knows, the Country of Canada has treated the United States very unfairly for decades. Now, things are turning around for the U.S.A., and FAST! But imagine, Canada is building a massive bridge between Ontario and Michigan. They own both the Canada and the United States side and, of course, built it with virtually no U.S. content. President Barack Hussein Obama stupidly gave them a waiver so they could get around the BUY AMERICAN Act, and not use any American products, including our Steel.
Now, the Canadian Government expects me, as President of the United States, to PERMIT them to just “take advantage of America!” What does the United States of America get — Absolutely NOTHING! Ontario won’t even put U.S. spirits, beverages, and other alcoholic products, on their shelves, they are absolutely prohibited from doing so and now, on top of everything else, Prime Minister Carney wants to make a deal with China — which will eat Canada alive. We’ll just get the leftovers! I don’t think so.
The first thing China will do is terminate ALL Ice Hockey being played in Canada and permanently eliminate The Stanley Cup. The Tariffs Canada charges us for our Dairy products have, for many years, been unacceptable, putting our Farmers at great financial risk. I will not allow this bridge to open until the United States is fully compensated for everything we have given them, and also, importantly, Canada treats the United States with the Fairness and Respect that we deserve. We will start negotiations, IMMEDIATELY. With all that we have given them, we should own, perhaps, at least one half of this asset. The revenues generated because of the U.S. Market will be astronomical. Thank you for your attention to this matter!” ~PRESIDENT DONALD J. TRUMP
The USMCA renegotiation plan likely plays a big part in this announcement. Don’t react, just watch.
Posted originally on CTH on January 30, 2026 | Sundance January 30, 2026 | Sundance
President Trump speaks to President Sheinbaum about upcoming USMCA renegotiation, while Mexican Economy Minister Marcelo Ebrard meets simultaneously in Washington with US Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer to discuss the upcoming trade review.
(VIA BLOOMBERG) Mexican President Claudia Sheinbaum said she had a “cordial” conversation with Donald Trump on Thursday, discussing trade and security issues ahead of the review of the North American free trade deal.
Sheinbaum said the review of the United States-Mexico-Canada Agreement will continue as planned and that she and the president discussed tariffs and non-tariff barriers in their latest call.
Mexico’s leader added that Trump invited her to the US but that no date has been set for what would be their second in-person meeting.
On security, Sheinbaum offered that both leaders are pleased with the level of cooperation so far between their two countries. Trump agrees “that we are making progress in the general understanding we have,” she told reporters at her regular daily media briefing, without offering more details.
We all know what is likely to happen, these small articles are like aperitifs while we await the main performance. Meanwhile, the overwhelming majority of Canadians -sans possibly Alberta residents- are clueless.
Posted originally on CTH on January 28, 2026 | Sundance
Here we go. If you’ve been under the Treehouse branches for more than a few months, it is now officially time to pull up a rock take a front row seat and enjoy the show. Don’t draw attention to yourself; however, please do bring your favorite beverage, relax and watch what no one else will admit is happening. The 2026 operation to exit the USMCA is officially underway.
While the Snow Mexicans are gnashing their teeth talking about feelings and various shiny things, United States Trade Representative Jamieson Greer is meeting today with Mexican Secretary of Economy Marcelo Ebrard to strategize the best approach for a U.S-Mexican bilateral free trade agreement.
Please remember, in order to fully appreciate the moment, we must allow all negotiation pretenses to remain in place, giving the illusion of something that will no longer be present when the end goal is reached.
Jan 28 (Reuters) – U.S. Trade Representative Jamieson Greer and Mexican Secretary of Economy Marcelo Ebrard agreed during a meeting on Wednesday to begin formal discussions on possible reforms to the United States-Mexico-Canada trade agreement, Greer’s office said.
Possible reforms include stronger rules of origin for key industrial goods, more collaboration on critical minerals, increasing efforts to defend workers and producers, and efforts to combat dumping of manufactured goods, the USTR’s office said in a statement. (LINK)
As we noted at the end of last year, splitting the USMCA into two bilateral trade deals, one for Mexico and one for Canada, will be one of the most interesting and long-term economically significant moves in U.S. trade history. It is going to be a lot of fun to watch these negotiations, and the pre-positioning gives us a preview of what is to come.
Mexico is doing everything almost perfectly in preparation for their bilateral deal. Canada is doing exactly the opposite and positioning themselves for the worst possible outcome of a deal with the USA. The disparity in approaches is so different, even now it is remarkable to watch.
President Trump is establishing an entirely new economic, trade and finance system. The era of the Marshal Plan is over; it has been factually deconstructed in the past 12 months.
Canadians and Europeans are desperately trying to offset the ramifications, hold on to their economic benefits and find a new mechanism to afford the domestic indulgences now eliminated by President Trump.
Needing alternatives for their economies, the EU and Canada are looking to India and China respectively as a financial offset. Meanwhile, so far, Mexico is playing it smarter….
Posted originally on CTH on January 27, 2026 | Sundance
Ontario Premier Doug Ford went for a pizza with Canadian Prime Minister Mark Carney. Following the meeting Doug Ford appears on camera for a debrief to explain how he has reversed his opposition to Chinese EV imports. The presser looks like a hostage video (prompted):
“A Party intending to negotiate a free trade agreement with a non-market country shall inform the other Parties at least three months prior to commencing negotiations and, upon request, provide information regarding the objectives of those negotiations.
A Party that enters into a free trade agreement with a non-market country shall provide the other Parties with the full text of the agreement prior to signing.
If a Party enters into a free trade agreement with a non-market country, the other Parties may terminate this Agreement on six months’ notice and replace it with a bilateral agreement.” [SOURCE]
Posted originally on CTH on January 25, 2026 | Sundance
Treasury Secretary Scott Bessent appears on ABC News with narrative engineer Jonathan Karl to discuss the outcomes of the Davos assembly, the Canadian trade conflict and the U.S-NATO deal over Greenland. Video and Transcript Below:
[Transcript] – KARL: I’m joined now exclusively by Treasury Secretary Scott Bessent, who is just back from Davos and joins us here in the studio.
Thank you for being here, Mr. Secretary. Let me start with the threat that the president made just yesterday to Canada. He said, if Canada makes a deal with China, it will immediately be hit with a one hundred percent tariffs against all Canadian goods. Why is Donald Trump threatening Canada again with another trade war?
SCOTT BESSENT, (R) UNITED STATES TREASURY SECRETARY: Well, Jonathan, good to be with you. And look, Prime Minister Carney went to — went to China, came back, dropped some industry specific tariffs on Chinese goods, and we have a highly integrated market with Canada, sometimes in autos, which he dropped the E.V. tariff, I believe, from a hundred percent to six percent.
The goods can cross across the border during the manufacturing process six times. And we can’t let Canada become an opening that the Chinese pour their cheap goods into the U.S. We have a USMCA agreement, but based on — based on that, which is going to be renegotiated this summer, and I’m not sure what Prime Minister Carney is doing here, other than trying to virtue-signal to his globalist friends at Davos.
I don’t think he’s doing the best job for the Canadian people.
KARL: But there’s confusion from President Trump on this. I mean, we heard from him just — I think it was nine days ago, eight or nine days ago. He had this to say about Canada negotiating with China.
(BEGIN VIDEO CLIP)
REPORTER: How do you see the deals — Canada and China just signed trade deals between the two partners?
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Well, that’s OK. That’s what he should be doing. I mean, it’s a good thing for him to sign a trade deal. If you can get a deal with China, he should do that.
(END VIDEO CLIP)
KARL: OK. So, he gives a green light to a deal with China just after they do it. And then nine days later, he’s saying that’s it, hundred percent tariffs.
BESSENT: Well, no, there’s possibility of hundred percent tariffs if they do a free trade deal. So, what —
KARL: So, it’s not now? It’s — this is if they go further than what’s already happening?
BESSENT: Well, it’s — if they go further, if we see that the Canadians are allowing the Chinese to dump goods. And Jonathan, just to be clear that the Canadians, a few months ago, joined the U.S. in putting high steel tariffs on China because the Chinese are dumping. The Europeans also have done the same thing. And it looks like that Prime Minister Carney may have done some kind of about-face.
KARL: You’ve got tariffs that have been in place since April. And the idea is to bring back manufacturing jobs, but in fact, every month, according to the data from the Fed, every month since April, we’ve actually had a decline in manufacturing jobs in the country.
BESSENT: Well, that — those are the manufacturing jobs. What we’re seeing is a burst in construction jobs because we’re seeing record number of factories construction. I was just in my home state of South Carolina a couple of months ago. There’s a rare earth magnets factory, 800 construction jobs. It could morph into 3,000 factory jobs.
I was just at the Boeing plant in Charleston. Thanks to President Trump’s constant push during the trade deals to sell more aircraft, Boeing is expanding their capacity there by fifty percent. So those will be construction jobs that morph into factory jobs. So, I could not be more upbeat about the prospects for manufacturing, for the economy in 2026.
KARL: And how do you explain what happened with Greenland? I mean, the president goes into Davos, not ruling out military force, talking about imposing tariffs on the Europeans who oppose us retaking Greenland. And now, suddenly, he’s OK with essentially, it seems like the same agreement that’s been in place since the ’50s.
BESSENT: Well, I think you haven’t seen the full agreement. Secretary General, Mark Rutte was a very good interlocutor between the Europeans and between President Trump. But look, a lot — a lot of things have changed up in Greenland. Jonathan, do you know what the Istanbul Bridge is?
KARL: Tell me.
BESSENT: A Chinese freight ship that, for the first time in October, came across the Arctic into the U.K. They are shortening their travel time. So, the Arctic is changing. Very important strategically for the U.S. to help control that.
KARL: OK. But again, it seems like we’re going to basically have the — I mean, Greenland’s not going to become part of the United States. We’re going to have the same access that we’ve had.
(CROSSTALK)
BESSENT: I promise you, the deal is not what we had before.
KARL: OK.
BESSENT: It is much more fulsome for the United States. And again, Jon, just to be clear, for 150 years, American presidents have had their eye on Greenland. We administered Greenland during World War II after the Danish were invaded by the Nazis.
KARL: Let me — let me ask you. Let me show you a photo that was posted by the French Defense Ministry yesterday showing coffins of French soldiers who died fighting alongside Americans in Afghanistan. And we also heard from the Italian prime minister, a good supporter of Donald Trump, Prime Minister Meloni, reacted to what the president had to say about European troops serving in Afghanistan, saying that she was astonished, and noted that 53 Italian service members were killed, more than 700 were wounded.
Does the president regret what he said about our NATO allies and their service in Afghanistan?
BESSENT: Jon, I was traveling. I haven’t seen any of that, but I can tell you that the president values NATO, and since his first term, he has worked hard to make sure that our NATO allies are pulling their fair share.
Just to be clear, since 1980, since 1980, the U.S. has spent $22 trillion more on defense than NATO. And now by President Trump getting our NATO allies, including Canada, who was very deficient in the funding, NATO is going to be stronger than ever.
KARL: But this is about sacrifice. Let’s play President Trump’s words so you understand exactly what they were talking about, what I’m talking about.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: We’ve never needed them. We have never really asked anything of them. You know, they’ll say they sent some troops to Afghanistan or this or that, and they did. They stayed a little back little off the front lines.
(END VIDEO CLIP)
KARL: I mean, do you understand why our European allies, the ones you’re negotiating with, are insulted by that?
BESSENT: Again, I think President Trump is laser-focused on the strongest NATO possible, that he has worked to negotiate a settlement on Russia-Ukraine. The U.S. has made much bigger sacrifices than the European has — Europeans have. We have put 25 percent tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India.
They — and just to be clear again, the Russian oil goes into India. The refined products come out, and the Europeans buy the refined products. They are financing the war against themselves. So, President Trump’s leadership, we will eventually end this Ukraine-Russia war.
KARL: And before you go, I know this is not your lane, but I got to ask you about what’s happened in Minneapolis. As a member of the — of the Trump cabinet, are you concerned to see another American citizen ends up dead, shot by federal law enforcement?
BESSENT: Jonathan, it’s a tragedy when anyone dies, but I can tell you the situation on the ground there is being stirred up by Governor Walz. I was out there two weeks ago. Governor Walz declined to provide a security detail for me to go into the Minnesota capital with the state police. So, he is fomenting the — he is fomenting chaos because there is substantial waste, fraud and abuse.
My job as Treasury secretary is to investigate that, and I think that, you know, this chaos that’s going on out there, and again, I am sorry that this gentleman is dead, but he did bring a nine-millimeter semi-automatic weapon with two cartridges to what was supposed to be a peaceful protest. I think that there are a lot of paid agitators who are ginning things up, and the governor has not done a good job of tamping this down.
KARL: Yes. I mean, as you know, he was an ICU nurse, worked for the Veterans Administration, and there’s no evidence that he brandished the gun whatsoever. In fact, it appears that —
BESSENT: He brought a gun.
(CROSSTALK)
KARL: He’d been disarmed before he was —
(CROSSTALK)
BESSENT: He brought a gun. Have you ever gone to a protest, Jonathan?
KARL: I mean, we do have a Second Amendment in this country that —
BESSENT: Jonathan, have you ever gone to a protest?
KARL: I mean —
BESSENT: Have you gone to a protest?
KARL: I mean, I’ve — no, actually, as a reporter covering it.
BESSENT: OK. I’ve been to a protest.
KARL: Yes.
BESSENT: Guess what? I didn’t bring a gun. I brought a billboard.
KARL: OK. Secretary Bessent, thank you for joining us.
Coming up, we’ll have the latest on the massive winter storm sweeping the country. We’re back in a moment.
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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