In short, as Canadian conservatives suspected, Mark Carney lied about everything!

U.S. Trade Representative (USTR) Jamieson Greer appeared on CNBC this morning to discuss the trade agreement between the U.S. and Canada and what caused the final breakdown at the last minute.  Greer notes the Canadian team appeared to be negotiating at the end from the position of politics as the Canadian team were aligning themselves with a domestic effort.

Greer draws attention to the friction points being very small. The U.S. tariffs were on less than 5% of overall Canadian exports and less than .06% of U.S. imports.  The U.S. made several offers to present Canada with the best trade terms in the world; however, Canada wanted more.  Canada wanted to retain all their market barriers, retain all quotas, retain all tariffs and restrictions against U.S. goods and services, but remove all the tariffs against them.

This is a really solid interview to watch because USTR Greer doesn’t need to pretend anything.  The terms offered were direct and consistent with benefit to both America and Canada.  On the language issue, Greer completely refutes the claims by Mark Carney about the U.S. seeking to change the language of Quebec and starts laughing at the premise. The issue relates to Canada demanding that five percent of all tech income be given to Canadian tech companies they compete against. That demand is ridiculous.  WATCH:

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In typical Canadian govt fashion, after making public pronouncements about President Trump’s trade team encroaching on Canadian sovereignty, Ontario Premier Doug Ford pledges to interfere in the U.S. mid-term election.

This comes on the heels of former Canadian Minister and current Ukrainian advisor for reconstruction, Chrystia Freeland complaining about the Trump administration creating a “vassal state,” from her office in Ukraine; the ultimate vassal state.  Again, typically Canadian.

Ontario is the epicenter of the Canadian auto industry, and Premier Doug Ford doubles down on his adversarial position to U.S President Trump, telling the elected American leader to “kiss his ass.”  WATCH:

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Secretary Bessent notes in his prepared remarks that President Trump has called the nations who are engaged with Iran to request them to cease and desist.  That means Trump likely called Chairman Xi (China), President Putin (Russia), President Erdogan (Turkey) and President Asif Ali Zardari of Pakistan.

The video and transcript of Secretary Bessent’s remarks are below. Media questions begin at 7:50 of video. WATCH:

[TRANSCRIPT] – Good afternoon.

Today, at President Trump’s direction, the United States Treasury has begun Operation Economic Outcast – an unprecedented campaign against the Islamic Republic of Iran and its enablers.

In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions, including those in third countries.

Today, in that same spirit, we are launching an economic onslaught against Iran’s financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.

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I am fielding a lot of questions about President Trump’s direct announcement today to place a 50% tariff on autos from Canada contrast against the USMCA (CUSMA) and other trade matters.

First, for President Trump this is not political; it’s pure economics.  Donald Trump has been talking about this issue for 40+ years. Trump has held the same position about American manufacturing and exploitation of U.S. industrial jobs long before he officially became a politician.  President Trump is not looking at the politics of the matter, nor does the midterm election play a part of the consideration.

This is the economics of the thing, politics be damned, and the Canadian politicians have no concept of how structurally important this is to Donald Trump personally.  For Canada it’s political, for Trump it’s business – deliberate, direct and consequential business.  There are trillions at stake.

VIA TRUTH SOCIAL – “Canada has been ripping off the United States of America for years. Their ridiculously high tariffs on our Farmers and farm products has made life impossible for these great American Patriots, and has long created a 60 Billion Dollar Deficit between our two Countries. Not sustainable, and NOT ANYMORE! On January First, 2027, Tariffs on all Cars, Trucks, both large and small, Automotive Parts, and Steel, will be increased to 50%. Build in the U.S. and there are ZERO TARIFFS. Canada will be treated like a State no longer! On Trade, and in other ways, also, they are among the worst Nations in the World to deal with. They feel entitled, and yet, WE DON’T NEED CANADA, THEY NEED US! They do 95% of their business with the U.S., with us, the exact opposite! Thank you for your attention to this matter!”

~ President DONALD J. TRUMP

The second aspect to the inbound questions center around the USMCA (CUSMA) and anticipated legal challenges to the 50% tariffs in violation of the USMCA trade agreement.  Those questions are coming from people who don’t understand the first point above, in combination with what we have outlined for years, President Trump does not want the multilateral USMCA to remain.  Trump has been very direct about this.

As to the legality of the matter. If you accept the USMCA is not valued as a reciprocal trade tool by the U.S. administration, then you set yourself up to understand there are two options available.

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An interesting soundbite from Council on Foreign Relations (CFR) President Mike Froman who distills down the main point of contention.  Essentially, the U.S. position is to demand a common trade approach toward China and the U.S. delegation gave Canada an ultimatum within the deal proposed, us or them.

If Mike Froman is correct, Mark Carney chose China. [X LINK] Video Below:

Mike Froman, former US Trade Rep on CNN yesterday afternoon “I think the new issue is that the Trump administration is pressing Canada, as well as other countries, to adopt a common approach vis a vis China, whether it’s a common external tariff or export controls, or ensuring… pic.twitter.com/RoTIXMZs3k

— cbcwatcher (@cbcwatcher) August 23, 2026

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There are a few that ankle bite about President Trump focusing on trade agreements as if it is foreign policy and not economic policy for America that is the #1 factor in our future.  I do not see value in such nonsense.  Economic security is national security – period.

After a day of Canadian government officials pushing a twisted narrative about their position regarding U.S-Canada trade, President Trump puts forth a simple truthful statement:

[SOURCE]

Additionally, U.S. Trade Representative (USTR) Jamieson Greer talked to the New York Times about the current issues that created the fracture in negotiations. I will outline those aspects below.

CTH readers will note that in 2025 and again earlier this year, our prediction was the USMCA (CUSMA) would dissolve in/around early July, and the U.S. would ultimately end up withdrawing completely in/around August of 2026.  I would be remiss if I did not note current events are following a very predictable path.

Trade issues with Canada are irreconcilable against the entitlement that underpins the Canadian economic mindset.  You will note these “friction points” do not exist with Mexico; there is a cultural and brutally factual reason for this.

Canada feels entitled to maintain a trade relationship with the USA as if they are a state in our union.  However, just like the abusive mentality in any toxic relationship, Canada refuses any reciprocity.  Canada maintains protectionist tariffs, non-tariff barriers, quotas against U.S. goods and one-way restrictions on banking, finance, intellectual property and media. The latter part they call “cultural” protection.

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Canadian Prime Minister Mark Carney is delivering speeches, holding press conferences and trying to justify his position following the collapse of negotiations between the USA and Canada.  Meanwhile, President Trump and his trade team are intentionally quiet.

In all high-stakes negotiations, deals and financial issues, the apex predators always know you make your point clearly and without reservation, you establish your terms and then you don’t say anything.  Total silence.  The first person to break the silence is the losing hand.  Once your terms are established you stay quiet and then let the other party talk, talk, and talk themselves to yes.  Silence is the power.

Mark Carney is telling everyone his position and trying to justify what has taken place.  Mark Carney is in a very weak position on both structure and substance of the issues. [I wrote a lengthy explanation HERE]

Within this segment Carney tries to explain what the USA requests were that Canada would not agree to.  He notes the U.S. wanted strict control over Canada’s free trade agreements (FTAs) with other countries.  What Carney fails to note is that this exists already, right now in the USMCA [Article 32:10 of the USMCA].  The U.S. has termination rights to both Canada and Mexico FTAs with other countries.  This is an example of Carney gaslighting Canadians.

In reality, Canada wants unlimited and unrestricted access to the U.S. market as if they were a 51st state.  However, Canada will not permit unlimited and unrestricted access to their market for U.S. companies.  This, Carney says, compromises the sovereignty of Canada. WATCH:

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I was confident the discussions would collapse because the Canadian position is based on lies, fraud and political denial.  Canada is playing politics hoping to retain their one-sided benefits and outlast President Trump into the midterm election.  Trump, however, has already executed the tariffs and the only thing remaining for him and Greer to do is trigger the six-month USMCA withdrawal. [Details Here]

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Moments ago, Canadian Prime Minister Mark Carney delivered the news via his X account.  Discussions between the U.S and Canada have collapsed. All trade representatives are called back home.  The 50% U.S. tariffs against Canada are now in effect.  A trade war begins.

First, read the statement from Prime Minister Mark Carney, with the understanding that Carney is making the first statement because the news is exceptionally bad for Canada.  Worse than bad.

[SOURCE]

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During the 2016 effort to weaponize the institutions of government against the outside candidacy of Donald Trump, the Senate Select Committee on Intelligence (SSCI) was headed by Richard Burr and Dianne Feinstein.  After the 2016 election Senator Feinstein abdicated her vice-chair position to Senator Mark Warner in January 2017.

While the SSCI was engaged in their part of the 2016 effort Vice-Chair Feinstein’s lead staffer was a man named Daniel Jones. Dan Jones was the contact point between the SSCI and Fusion-GPS.

After the election, and after Feinstein abdicated, Dan Jones left the committee to continue paying Fusion-GPS (Glenn Simpson) for ongoing efforts toward the impeachment insurance policy angle.

Feinstein appears to have left because she didn’t want to deal with the consequences of a President Trump, IF he discovered the SSCI involvement.

Dan Jones left because with a Trump presidency the SSCI, now co-chaired by Senator Mark Warner, needed arms-length plausible deniability amid their 2017 operations to continue the removal effort (soft coup).

The trail for this plausible deniability process and ongoing soft-coup effort first surfaces with Dan Jones appearing in the early 2017 text messages between Senator Warner and the liaison for Christopher Steele, lawyer and lobbyist Adam Waldman:

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President Donald Trump announced today that import quotas on beef will be lifted for a period of 90-days in an effort to remove pricing stress on cattle and give U.S. ranchers an opportunity to restore herd head count.

The short-term effort is directed to lower consumer prices, while in the longer term the U.S. cattle industry undergoes market-based reforms to eliminate monopolistic industrial practices.

PRESIDENT TRUMP – “Today, I concluded a deal to substantially lower the price of ground beef for working American families. As everyone knows, under President Biden, beef prices soared at their fastest rate and the American beef herd fell to its smallest size in modern history. As we work to rebuild this herd and help our ranchers, for the next 90 days, the United States will allow up to 300,000 metric tons of product for ground beef to be imported with no out of quota tariff. We have a commitment that this beef will be sold at 25 percent below current market prices. This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again. Thank you for your attention to this matter!” ~ President DONALD J. TRUMP

President Trump gave remarks about the issue during a tarmac presser en route to South Carolina. [PROMPTED]

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