• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
North AmericaTariffs and trade

‘I meant what I said in Davos’: Carney says he really is planning a Canada split with the U.S. along with 12 new trade deals

By
Rob Gillies
Rob Gillies
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Rob Gillies
Rob Gillies
and
The Associated Press
The Associated Press
Down Arrow Button Icon
January 28, 2026, 9:56 AM ET
carney
Canadian Prime Minister Mark Carney delivers a speech at the World Economic Forum Annual Meeting held in Davos, Switzerland on January 20, 2026. Harun Ozalp/Anadolu via Getty Images

Canadian Prime Minister Mark Carney said Tuesday he told U.S. President Donald Trump that he meant what he said in his speech at Davos, and told him Canada plans to diversify away from the United States with a dozen new trade deals.

Recommended Video

Carney rolled his eyes and rejected U.S. Treasury Secretary Scott Bessent’s contention to Fox News that he aggressively walked back his comments at the World Economic Forum during a phone call with Trump on Monday.

“To be absolutely clear, and I said this to the president, I meant what I said in Davos,” Carney said to reporters as he arrived for a Cabinet meeting in the capital, Ottawa.

“Canada was the first country to understand the change in U.S. trade policy that he initiated, and we’re responding to that. ”

In Davos at the World Economic Forum last week, Carney condemned economic coercion by great powers on smaller countries without mentioning Trump’s name. The prime minister received widespread praise and attention for his remarks, upstaging Trump at the gathering.

“The world has changed, Washington has changed. There is almost nothing normal in the U.S. now and that’s the truth,” Carney said in French in Parliament on Tuesday.

Tariffs and trade deals

Trump threatened this past weekend to impose a 100% tariff on goods imported from Canada if America’s northern neighbor went ahead with a trade deal with Beijing, though Carney has said Canada has no interest in negotiating a comprehensive trade deal with Beijing.

Carney said Trump called him and that they spoke for a half hour.

“I explained to him our arrangement with China. I explained to him what we’re doing — 12 new deals, four continents, in six months,” Carney said. “He was impressed.”

Trump’s threat came amid an escalating war of words with Carney. The Republican president’s push to acquire Greenland strained the NATO alliance, alarming Canada, which shares a 3,000-kilometer (1,864 mile) maritime border with Greenland in the Arctic. Trump has also previously talked about making Canada the 51st state.

Carney has said his recent agreement with China merely cuts tariffs that were recently imposed on a few sectors. The prime minister plans to travel to India, Australia and other countries in an effort to diversify trade away from dependence on the U.S., which takes more than 75% of Canada’s exports.

The United States-Mexico-Canada Agreement is up for renewal this year. Carney has set a goal for Canada to double its non-U.S. exports in the next decade.

At the table or on the menu

Carney has emerged as a spokesman for a movement to link up countries and counter the U.S. under Trump. Speaking in Davos before Trump, Carney said, “Middle powers must act together because if you are not at the table, you are on the menu.”

Carney said he also spoke to Trump about Ukraine, Venezuela and Arctic security in his phone call.

Bessent said Carney spoke to Trump on Monday. The Treasury secretary told Fox News that Carney “was very aggressively walking back some of the unfortunate remarks he made at Davos.”

“Of course, Canada depends on the U.S.,” Bessent said. “There’s much more north-south trade than there could ever be east-west trade.”

Bessent said Canada is linked to the U.S. and that Carney should stop trying to “push his own globalist agenda.”

Dominic LeBlanc, Canada’s minister responsible for Canada-U.S. trade, has compared Canada’s recent trade deal with China to an agreement Trump made with Chinese leader Xi Jinping in South Korea last summer in which the U.S. cut some tariffs on China while Beijing moved to allow rare earth exports and lift a pause on purchasing U.S. soy.

Trump’s push to acquire Greenland has come after he has repeatedly needled Canada over its sovereignty and suggested it also be absorbed into the United States. He posted an altered image on social media last week showing a map of the United States that included Canada, Venezuela, Greenland and Cuba as part of its territory.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Authors
By Rob Gillies
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in North America

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in North America

NYT
InvestingMedia
Warren Buffett’s company takes a $350 million stake in The New York Times, 6 years after bailing on newspapers
By Josh Funk and The Associated PressFebruary 18, 2026
13 minutes ago
roundup
LawCancer
Bayer reaches $7.25 billion settlement over claims that Roundup caused cancer
By David A. Lieb and The Associated PressFebruary 18, 2026
26 minutes ago
les wexner
LawBillionaires
Victoria’s Secret billionaire to face congressional grilling over long Epstein friendship behind closed doors
By Julie Carr Smyth and The Associated PressFebruary 18, 2026
1 hour ago
trump
EconomyImmigration
Trump crackdown drives 80% plunge in immigrant employment, reshaping labor market, Goldman says
By Nick LichtenbergFebruary 17, 2026
18 hours ago
Photo of Ed Roski Jr. (left) and Gayle Roski
Real EstateImmigration
Billionaire Trump supporter blocks sale of Texas warehouse for use as ICE jail
By Jacqueline MunisFebruary 17, 2026
19 hours ago
greenland
North Americahistory
Why America may not have won World War II without its secret weapon: Greenland
By Thomas Robertson and The ConversationFebruary 17, 2026
20 hours ago

Most Popular

placeholder alt text
AI
Thousands of CEOs just admitted AI had no impact on employment or productivity—and it has economists resurrecting a paradox from 40 years ago
By Sasha RogelbergFebruary 17, 2026
22 hours ago
placeholder alt text
Economy
$56 trillion national debt leading to a spiraling crisis: Budget watchdog warns the U.S. is walking a crumbling path
By Nick LichtenbergFebruary 17, 2026
23 hours ago
placeholder alt text
Personal Finance
You need $2 million to retire and 'almost no one is close,' BlackRock CEO warns, a problem that Gen X will make 'harder and nastier'
By Sydney LakeFebruary 17, 2026
22 hours ago
placeholder alt text
Economy
Trump crackdown drives 80% plunge in immigrant employment, reshaping labor market, Goldman says
By Nick LichtenbergFebruary 17, 2026
18 hours ago
placeholder alt text
Personal Finance
Current price of silver as of Tuesday, February 17, 2026
By Joseph HostetlerFebruary 17, 2026
1 day ago
placeholder alt text
Real Estate
A billionaire and an A-list actor found refuge in a 37-home Florida neighborhood with armed guards—proof that privacy is now the ultimate luxury
By Marco Quiroz-GutierrezFebruary 15, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.